This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.
Property Firms Hit by Black Monday
Property portals, estate agents and property developers were all hit by yesterday’s Black Monday.
Described as a bloodbath on the stock market, yesterday saw markets crash around the world.
In the UK, almost three years of gains were destroyed. In China, yesterday’s 8.5% downfall followed a 12% decrease last week, causing uncertainty for UK estate agents over Chinese property buyers in this country.
Shares in Rightmove dropped by 5.25% and Zoopla saw falls of 7.91%.
Countrywide, the UK’s biggest estate agent, experienced a 2.28% decline, LSL of 7.74% and Savills of 6.72%.
Shares in Foxtons were down by 5.77% and house builder Barratts saw falls of 3.44%.
