In a nutshell: the property share price freefall

first_imgIf the share price of the UK’s residential stockmarket-listed corporates are the bellwether of the industry’s future health then estate agents should be battening down the hatches.Investors in London’s stock exchange clearly think Brexit, the recent Stamp Duty increases and last week’s letting fees ban are going to make selling or renting homes harder and less profitable in the coming months. Share prices have dropped alarmingly.Compared to a year ago when Brexit was still only a possibility, Countrywide’s share price is down by 52%, Foxtons by 37%, LSL Property Services by 33%, Belvoir Lettings by 15.7% and Savills by 13.9%.Even the industry’s digital superstars, so beloved of the City in recent years, have taken substantial hits including Purplebricks (-31%) and Rightmove (-11%) although Zoopla, whose model has helped its share price grow since August, is only down by half a percent as is Belvoir Lettings.Savills has also done better during the recent bloodbath which UBS analyst Heidi Richardson says is because the stockmarket knows only 9% of its sales come from selling homes in the UK.Purplebricks survived the lettings fees ban much better than its more traditional competitors after rushing out a statement that the changes would not have any “meaningful impact on the business” and that it anticipated that it “can adapt the model swiftly and at minimal cost”.This helped its share price last week, which only dropped by 2% compared to its high street counterparts, despite several of them announcing digital strategies or online-only acquisitions, This included Countrywide (-5.4%), LSL (-8.9%), Foxtons (-14%) and Belvoir Lettings (-20%).LSL Savills share price Countrywide Foxtons November 28, 2016Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles Letting agent fined £11,500 over unlicenced rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Home » News » Agencies & People » In a nutshell: the property share price freefall previous nextAgencies & PeopleIn a nutshell: the property share price freefallYear long decline not helped by last week’s letting fees banNigel Lewis28th November 20160628 Viewslast_img read more

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Subway adds power to EIPC

first_imgThe European Independent Purchasing Company (EIPC), owned by franchisees of sandwich chain Subway, says it is now one of the biggest independent purchasers of food and paper in Europe.The EIPC, which manages purchasing on behalf of some 2,000 Subway shops across the UK, Ireland, Germany, France, Spain and Benelux, sources and supplies food, paper, equipment and utilities, and manages the supply chain for stores. Its total purchases for Subway franchisees across Europe is set to exceed £170m in 2007.Bryan Griffiths, MD of EIPC, said: “In the UK and Ireland, Subway opened its 1,000th store earlier this year and has reached the 500-store milestone in Germany.”last_img

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Hialeah woman arrested in connection with the death of a 28-year-old man

first_imgAuthorities in Hialeah have arrested a 23-year-old woman after she reportedly shot and killed a 28-year-old man.Karina Vanessa Corbalan was arrested Tuesday after she reportedly fatally shot Alejandro Sanchez several times on Monday.Investigators say they responded to the scene near the 5600 block of West 21st Avenue, to find the victim with several gunshot wounds.Sanchez was airlifted to Jackson Memorial Hospital’s Ryder Trauma Center where he later died from his injuries.While many details surrounding the case have not been publicly released, a neighbor told reporters that her daughter was the one who found Sanchez. The witness says her daughter heard a loud sound outside and went to see what was happening. When she went outside she saw the victim running before he collapsed on the ground. The witness then went over to him and called his mother.After an investigation, authorities determined that Corbalan was behind the shooting. She is now facing a charge of second-degree murder and is due in court on Tuesday afternoon.Witnesses say Corbalan and Sanchez knew each other.last_img read more

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