Countrywide’s share price started the week at below 200 for the first time - about 30 months after it was riding high at over 680.
The Countrywide price ended Friday down 4.70 on the day at 197.50. On March 14 2014, prior to the arrival of new senior management and an extensive reorganisation, it closed at a high of 686.50.
Last week’s slump in the agency group’s fortunes is thrown into stark relief because the FTSE 100 index rose 35.81 points last Friday alone at 7,013.55 after a strong performance for several days running. The broader FTSE 250 index - of which Countrywide is a constituent company - rose 103.07 during the course of Friday to close at 17,980.18.
On July 28, the day of Countrywide’s most recent half-year report - considered by some analysts to be relatively strong - the agency group’s price closed at 263.20, indicating that since that time the group has lost around 30 per cent of its value.
Estate Agent Today asked Countrywide for any comment on its ongoing share slide. A spokesperson said: "Countrywide's Q3 results will be made public in November 2016. We cannot share any information before this but will update you as soon as we can."
A series of senior management departures, the launch of an online agency option for vendors across three brands - now being extended to around a third of Countrywide agency branches - and last month’s exclusive by Estate Agent Today listing the closure of around 60 offices have all fuelled industry debate about the company.
Those initiatives followed the high-profile arrival of chief executive Alison Platt and extensive management and divisional reorganisation with the aim - in the words of one Countrywide statement last year - “[of] leveraging our combined sales and lettings offering through one cohesive retail team.”
The Countrywide group employs some 11,300 people across the UK in around 1,450 offices carrying over 45 brands. In 2015 it enjoyed a net income of over £41m.
The former chief executive of Countrywide, Harry Hill, has made clear his concern at the direction and likely success of his successors running the group which - until now at least - accounted for around 10 per cent of sales in the UK residential market.
Earlier this month he tweeted that on the basis of his observation of For Sale boards in London, the company was facing "market share disaster".