Halifax to close quarter of estate agents

Fri, 22 Aug 2008

Halifax estate agents are reportedly going to close 25 per cent of UK branches, due to a 10.9 per cent annual fall in house prices and adverse market conditions.

The group will shut down 53 different high street branches by the end of this year, largely due to a significant decline in house sales over the last 12 months. Halifax Estate Agents is owned by Halifax Bank of Scotland, the largest lender in the UK. The company has taken a battering in the credit crunch.

HEA have a further 151 estate agencies, but have remained silent about which branches will face the axe. Estate agent business has dried up as house prices have started to fall and adverse mortgage market conditions have driven buyers away.

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