Revenue from house sales at LSL was down 15.3% in the first quarter of this year, the firm has reported.

LSL, parent company of brands including Reeds Rains, Your Move and Marsh & Parsons, said this reflected a more difficult market than expected.

It also said the dip reflected the closure of eight branches in the last quarter of last year, the timing of bank holidays, and poor weather in March.

However, lettings delivered income growth of 4.2% compared with the first quarter of last year, with total agency revenue was up by 2.4%.

LSL, whose AGM was held yesterday, said it remains confident of delivering a full-year result in line with expectations