Home Commercial Property London buyers are put off over Brexit uncertainty

London buyers are put off over Brexit uncertainty

by LLP Reporter
20th May 19 12:10 pm

Foxtons the estate agent said there is still no improvement to a “very challenging” property market in London, saying buyers are put off over Brexit uncertainty.

The estate agent reported in the first three months to 31 March revenue of £23.8m, compared to £24.5m for the same period in 2018.

This was due to a fall in sales revenue from £8.2m to £7.1m over the period, as there has been record low levels of house sales.

Ahead of their Annual General Meeting (AGM) Foxtons said there had been no change in April.

The company said, “Sales volumes continue to be at record low levels and ongoing Brexit uncertainty is impacting consumer confidence.”

In February the estate agent posted a £17.2m full year loss as they struggled with weakened property market in London.

In early morning trading shares in Foxtons were down by 3.3%.

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