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Estate agency insolvencies 'up 57%' in last year
The number of estate agents in the UK entering insolvency jumped 57% in the last year, a new report has indicated. Some 77 went under in the 12 months to June, compared with 49 a year earlier. The report from accountants Wilkins Kennedy suggested the prolonged slump in the UK property market is to blame, despite a recent upturn. Significantly fewer agents went bust in the London area, reflecting the much more buoyant market in the capital. "London has always been a more resilient market for estate agents, due to the higher property prices, constant demand and healthier lettings markets," said Anthony Cork, partner at Wilkins Kennedy. "Although competition for business is fierce, transactions are constantly being made, which isn't the picture elsewhere in the country."....Read more hereYou must be logged in to post a comment.
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