Knight Frank has entered a redundancy consultation process with staff as the slowdown in the housing market continues to slow on the back of higher mortgage costs and the wider cost-of-living crisis.

The estate agency has said up to 3% of roles are at risk, amounting to around 90-100 members oof staff.

Will Beardmore-Gray, senior partner and group chair, Knight Frank, said: “We announced a consultation process, which puts up to 3% of roles across the UK business at risk of redundancy.

“Such steps are never undertaken lightly, and I know it will be an unnerving time for those affected.

“This difficult decision has been taken in order to future-proof the firm and focus on the strategic activity that delivers the long-term insight, expertise and service that our clients deserve and value.”