Property News · November 23, 2016

Estate agency shares slide ahead of letting fees clampdown


Foxtons and Countrywide among those hit as investors expect chancellor to ban upfront charges in autumn statementShares in some of Britain’s biggest estate agencies fell sharply on Wednesday on the expectation that the chancellor will use his first autumn statement to ban upfront fees charged by letting agents.Roughly £50m was wiped off the combined value of Foxtons and Countrywide as Philip Hammond prepared to announce a clampdown to prevent tenants from being forced to pay administrative costs for simple things such as inventory and reference checks. Continue reading…

Source : theguardian.com
Read more…Estate agency shares slide ahead of letting fees clampdown

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