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CORONAVIRUS UPDATE

See the latest Coronavirus statistics from across the world on our world map SEE MAP UK Confirmed cases: 259,559 | UK Deaths: 36,793 SEE MAP Italy Confirmed cases: 229,858 | Italy Deaths: 32,785 | Italy Recovered: 140,479 SEE MAP Spain Confirmed cases: 235,772 | Spain Deaths: 28,752 | Spain Recovered: 150,376 SEE MAP See the latest Coronavirus statistics from across the world on our world map SEE MAP UK Confirmed cases: 259,559 | UK Deaths: 36,793 SEE MAP Italy Confirmed cases: 229,858 | Italy Deaths: 32,785 | Italy Recovered: 140,479 SEE MAP Spain Confirmed cases: 235,772 | Spain Deaths: 28,752 | Spain Recovered: 150,376 SEE MAP

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TODAY'S OTHER NEWS

Collapsed: how agency and portal shares have plunged up to 80%

The human cost of the Coronavirus crisis is growing and devastating, but behind that businesses are being badly hurt too.

Many consider the corporates and the portals better able to withstand the current challenge but they, too, have been hit significantly.

Here is a list of their share price collapse since the first day of trading this year on January 2, until close of business on Friday. We have rounded the figures to the nearest penny.

Countrywide - already on its uppers at the start of 2020 after years of decline - has lost over 80 per cent of its share value in the past three months and has suffered the most significant collapse of all property companies.

Belvoir: 147p to 100p;

Countrywide: 349p to 60p;

Foxtons: 85p to 43p;

Hunters: 65p to 35p;

LSL Property Services: 270p to 160p;

OnTheMarket: 70p to 35p;

Property Franchise Group: 200p to 167p;

Purplebricks: 130p to 38p;

Rightmove: 640p to 470p;

Savills: 1,144p to 773p.

  • adrian black

    It's very sad to say but businesses with high fixed costs are going to be in real trouble - they will all be scrambling to reduce them. It's very likely that revenue except for property management will fall by 70% plus in the next 6 months, and then will take time to build up again. It's also likely that property management revenue will fall too as rent payments are deferred - it's going to be a really tough time, I hope the landlords of offices really help out here

  • Andrew Stanton Proptech Real Estate Influencer - Analyst - CEO Proptech-PR

    Countrywide, Purplebricks, it is a question of trust and a working business model. For sure all share prices are being hit, but Countrywide have never recovered from the 80% share price fall under Alison Platt, and the failure to sort out a proper way forward after that.

    And the general public realising that paying upfront for an online model that cost 21,000 vendors over 18 Million in wasted fees last year means that 'trust' is no longer in place.

    Once the love/trust is gone - well game over. Share prices recover, and over time you can not beat a return on the stock market, but Puplebricks is listed on the alternative investment market - probably apt as it has an alternative estate agency model, listing property is its core function - not selling property.

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