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Purplebricks and Foxtons lead share price falls amid Covid worries

Share prices for many quoted estate agencies and property portals fell in trading as fears grew about Coronavirus.

London-focussed agency Foxtons was one of the larger fallers, down nine per cent to around 39p at the end of yesterday’s trading. A similar drop was suffered by Purplebricks, ending around 66p.

Rightmove fell 5.8 per cent to around 592p while OnTheMarket dipped a similar percentage to around 90p.

Savills - which is exposed to the effects of Coronavirus on commercial and international markets as well as the UK residential scene - dipped around one per cent.

The Property Franchise Group, which yesterday announced the return of industry veteran Eric Walker as one of its regional chiefs working on the Martin & Co brand, dropped some four per cent.

Belvoir - the other major property franchise company quoted on the stock market - was down by seven per cent.

Countrywide fell over theee per cent but LSL Property Services bucked the trend, rising almost three per cent.

Share prices across Europe in particular fell yesterday amid fears that the ongoing rise in Coronavirus cases will delay any significant chance of economic recovery in the near future.


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