Estate Agents having a hard time from housing market

Fri, 15 Aug 2008

A number of flagship branches for estate agents in London are being closed down, as the sale of houses plummets. With the capital suffering from housing market downturn, many estate agents are now uneasy in their roles.

Sales in central London, estate agents say, have plummeted by over 50 per cent. Many offices in top locations such as Fulham, Knightsbridge and Chelsea have had to close. The tough market conditions mean that many estate agents are facing the most difficult period in their history.

Even long-term estate agents claim to never have experienced problems such as this. For some agents, however, the closure of many businesses is leading to an increase of buyers. One expert claimed that an awful lot of estate agents were on the brink.

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