A slowdown in the housing has made conditions more challenging than expected, says a major North East agency group.
LSL Property Services said its estate agency and finance services revenues were both down thanks to fewer house purchases and a smaller new build market. However, the Newcastle-based plc broadly maintained group revenues in the 10 months to the end of October at £276.1m, compared with £275.4m in the same period of 2021.
The business explicitly said the slowdown came after the Liz Truss Government's so-called 'mini Budget'. It pointed to a significant impact in its surveying and valuation business where lenders took time to assess the outlook and "reduced their appetite for new business".
