{"id":8281,"date":"2019-03-07T12:47:28","date_gmt":"2019-03-07T12:47:28","guid":{"rendered":"http:\/\/www.styledeals.co.uk\/blog\/estate-agent-countrywide-sees-brexit-uncertainty-hit-trade\/"},"modified":"2019-03-07T12:47:28","modified_gmt":"2019-03-07T12:47:28","slug":"estate-agent-countrywide-sees-brexit-uncertainty-hit-trade","status":"publish","type":"post","link":"https:\/\/www.styledeals.co.uk\/blog\/estate-agent-countrywide-sees-brexit-uncertainty-hit-trade\/","title":{"rendered":"Estate agent Countrywide sees Brexit uncertainty hit trade"},"content":{"rendered":"\n
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\"CountrywideImage copyright<\/span>
\n Reuters<\/span><\/p>\n

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The UK’s largest estate agent group, Countrywide, has reported widening losses and says the uncertainty surrounding Brexit is hitting business.<\/p>\n

Losses last year were \u00a3218m, compared with a \u00a3207m deficit in 2017.<\/p>\n

It said Brexit uncertainties were “affecting both our sector and consumer confidence as a whole”, and earnings would be hit this year.<\/p>\n

Separately, a survey from the Halifax said house prices rose 5.9% in February from January.<\/p>\n

‘Stronger position’<\/h2>\n

Countrywide trades under a variety of estate agent brands, including Bairstow Eves, Bridgfords, Hamptons, John D Wood and Mann.<\/p>\n

The company, which had already warned on profits during 2018, said it had faced market weakness in the fourth quarter of the year.<\/p>\n

Countrywide’s chairman, Peter Long, said that the slowdown would continue in the first half and reduce earnings by \u00a33m to \u00a35m.<\/p>\n

“2018 was undoubtedly one of the most challenging years that the group has faced,” Mr Long said. <\/p>\n

“As a group we are in a stronger position than we have been for some considerable time with sound business fundamentals and, despite the difficult market conditions we are facing, we remain confident in delivering our turnaround.”<\/p>\n