Fears over future of estate agent jobs
Tue 8th Jan, 17:17:37 GMT
Concerns have been raised over how the slowdown in the property market could result in hundreds of estate agents losing their jobs.
The Times reports that a number of leading firms look set to let people go as demand for property decreases over the next few months.
Already this week, LSL Property Services, one of the biggest estate agents in the country, announced that it has been forced to cut 315 jobs due to the current market conditions as well as shut down 12 offices.
Dean Fielding, LSL''s group finance director, told the newspaper that estate agents have "no choice" but to cut back, adding: "It is very difficult to see where the market is going to land.
"Our larger competitors are doing similar things."
Property company King Sturge has also revealed that it has a challenging 12 months ahead, telling the Times that it was expecting its "toughest year since 1997".
Property investors are positive about 2008, however, with recent research from Paragon Mortgages showing landlords are expecting tenant demand to rise.
The Times reports that a number of leading firms look set to let people go as demand for property decreases over the next few months.
Already this week, LSL Property Services, one of the biggest estate agents in the country, announced that it has been forced to cut 315 jobs due to the current market conditions as well as shut down 12 offices.
Dean Fielding, LSL''s group finance director, told the newspaper that estate agents have "no choice" but to cut back, adding: "It is very difficult to see where the market is going to land.
"Our larger competitors are doing similar things."
Property company King Sturge has also revealed that it has a challenging 12 months ahead, telling the Times that it was expecting its "toughest year since 1997".
Property investors are positive about 2008, however, with recent research from Paragon Mortgages showing landlords are expecting tenant demand to rise.
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