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The best news of the year: Foxtons suffering


One percent

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3 minutes ago, One percent said:

http://www.bbc.co.uk/news/business-43223177

Estate agent chain Foxtons has reported a slump in profits as it warns of a London housing market near historic lows.

The slowdown "had a significant impact on our overall performance in 2017", the estate agent said.

Foxtons saw profits drop 65% for the year to 31 December 2017.

 

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4 minutes ago, The Masked Tulip said:

Near historic lows - I suspect not. Just more bull from EA's wanting the govt to do something to allow them to screw us all over again. Usually works alas.

Can't be as bad as 2009 and certainly not as bad as 1990 when people were slashing their sking prices daily and keys being returned to the banks.

I think it just means that London prices have gone from 'absolutely barking mad' to just 'mad'. 

Probably caused by the Russian/Chinese/Saudi money supply drying up slightly. 

**** the lot of them. One of the best things I ever did was get out of London and buy a  little place in the country for cash using the money I was intending for a deposit on an ex-council studio flat on the Stabsville Estate. 

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