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A third of estate agents to close their doors over the next 12 months
14/04/2008 12:33:00
A housing expert has warned that up to 4,000 estate agents working in the UK are expected to fold due to house sales dropping.
Up to 4,000 agents out of the 12,000 thought to be in business are expected to shut their doors over the next 12 months.
Robin King, director of Movewithus, said that sales within his network have dropped by 30 to 50 per cent.
He attributed this to a fall in demand as potential homeowners, such as first-time buyers and families, have been priced out of the property market.
"People may not like estate agents, but if they are doing well, everyone else is too. If no one is buying and selling, it is a sign that no one is making any money," he added.
Recent figures from the National Association of Estate Agents showed that the number of housebuyers on agents' books fell to the lowest yet recorded in February.
Numbers fell from an average of 276 per agent in January to 243.
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