The pain continues in the estate agency world; a staggering one office every day is believed to be closing, many others are shedding staff, cutting advertising and holding on for dear life.
There are some who are riding the long storm, but the numbers failing are rising, rather than falling, month on month.
Surprisingly, lettings businesses are closing as well as sales, although its not clear whether these are sales agents who only recently started lettings to help them through the recession.
Closures aren’t limited to small independents, although the less established independents must be struggling more than the old hands.
Franchising doesn’t seem to offer any more security either, if is not working it’s closed.
The big boys, with shareholders to satisfy and massive overheads to manage, can be ruthless. Countrywide is still quietly closing branches, as is Chesterton Humberts.
Some of these have been in operation for decades and the high streets don’t look quite the same without them.
Geography is no indicator either, with closures reported in almost every county since the start of 2010, towns from Alfreton to Wigan, Abingdon to Worcester, all have empty offices and more unemployed staff.
Last year, PROPERTYdrum was still hearing about new startups and new branches opened by existing agents; but there has been little show of optimism in January and February.
