There has been more volatile stock market trading for some of the industry’s highest-profile agencies.
Countrywide - whose chief executive Alison Platt took the industry by surprise yesterday by becoming a non-executive director of Tesco in addition to running Britain’s biggest agency group - ended the day 8.3 down at 363.4. This was the equivalent of a 2.23 per cent drop on the day.
However, early in the day it had shot up to 376.0.
Foxtons - which earlier this week announced it was to open five new branches this year, two in the troubled central London market and three on the outskirts of the capital - ended yesterday down 5.0 points, equivalent to 2.63 per cent. Analysts suggested ongoing London housing market uncertainty was to blame.
But online estate agency Purplebricks was the biggest loser, with its fate creating debate on social media.
After edging down consistently since its launch to the market a week before Christmas, it dropped another 6.0 points yesterday to close at 78.0; this represented a drop of some 7.14 per cent in just one day.
The online agency - backed by star fund manager Neil Woodford - started trading on December 17 on the Alternative Investment Market, regarded as London's junior market. Then its 240m ordinary shares were placed at 100p each based on a market capitalisation of £240.3m.
Another recently floated agent, Hunters, was unchanged on the day.