Black day on stock market for residential property businesses

Shares in some residential property businesses, including the portals, fell yesterday in a bruising day on the stockmarket.

Foxtons’ shares hit a 52-week low of 95.25p and finished the day at 96.5p.

The price contrasts with the 52-week high of 255.8p last September 4.

Rightmove dropped 162p to finish at 3,197p – well down from its year high of 4,280p.

Zoopla closed down 10p at 229p. The business launched on the stock market just over two years ago at 220p and has had a year high of 342.60p and a low of 189.80p.

Savills shares tumbled 28.5p to 548p while Countrywide fell 2p to 227p.

Purplebricks shares fell 13p to 123p while LSL, parent company of Your Move and Reeds Rains, ended at 235.75p, down 8.5p.

Martin & Co, still better known for its lettings operations rather than sales, bucked the trend with a small rise of 1.7p to 129.2p.

Belvoir, also still more associated with lettings than sales, dipped from 131.5p to 130p.


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One Comment

  1. The Outsider

    And yet there are agents on here that are burying their heads in the sand thinking all is rosy.


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