Investors have been advised that shares in Foxtons, Zoopla and Rightmove will prove “a reasonable investment”, but that none look as good as Countrywide.

The advice comes because of doubts in sales – but confidence in the lettings sector.

James Skinner, of investment website The Motley Fool, said: “A combination of higher rates and a stricter regulatory approach to mortgage affordability will see many people’s prospects of home ownership reduced, and that this will probably see ever greater numbers driven into the rental market as time elapses.

“For Countrywide, with its almost even split between estate agency sales and residential lettings, this is good news.”

He said Countrywide’s acquisitions of letting agents should provide it with an “effective hedge” against a downturn in sales.

He said of Foxtons that it is less preferable than Countrywide because of its bias towards sales and because it is London-centric.

He said this could pose a problem if changes to Stamp Duty prove more negative than was first thought.

He said of Rightmove and Zoopla: “While I believe that all of these businesses would prove to be at least a reasonable investment over time, many will remember that it was a Countrywide consortium that created Rightmove back in 2000, while the firm also still holds two boardroom positions and a sizeable stake in the recently listed Zoopla.

“Given that these two digital wonders are both, in one way or another, products of Countrywide’s innovation, I can’t help but suspect that it is Countrywide which is the better investment of them all.

“Certainly, with it presenting as the cheapest of the bunch at present, it would appear to be almost a ‘no-brainer’ for those who are looking to invest only in the one company.”

Skinner’s advice comes as Deutsche Bank raised its target for Zoopla to 240p, sending Zoopla shares spinning upwards on Friday. Conversely, JP Morgan downgraded Rightmove from an overweight rating to neutral.