According to Estate Agent Today, most listed agencies and portals suffered share price falls Tuesday the 6th of February, creating a challenging landscape for Agents’ Mutual which launches on the London stock exchange Friday the 8th of February.
Yesterday Countrywide dropped more than seven percent, taking its share price well below the point when former chief executive Alison Platt left the organization at the end of last month.
LSL Property Services dropped over three percent; Property Franchise Group, Winkworth, and Foxtons suffered less but still fell between 0.4 and 2.5 percent yesterday.
Savills felt by some analysts to be less vulnerable to stock market volatility because of its international activity across residential and commercial property, nonetheless fell around 2.8 percent.
Amongst traditional agents, only Hunters and Belvoir bucked the trend, up one percent or less, while Purplebricks - after several days of substantial falls following the controversial analysis of its sales record by Jefferies consultancy - actually rose around three percent on the day.
But property portals ZPG and Rightmove both dropped three percent mark as stocks in almost all sectors displayed volatile activity.
Yesterday's falls followed sharper downward movement by many stocks on Monday.
Read more here
Join us in Bangkok from the 28th of February to the 1st of March for the 22nd Property Portal Watch Conference. The theme for this year is The Future of Online Real Estate Marketing – Getting Closer to the Transaction.
