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The Guardian - UK
The Guardian - UK
Business
Joanna Partridge

Shares in big UK estate agent chain fall as housing market cools

United Kingdom Housing Market Taylor Wimpey Berenberg Persimmon
Taylor Wimpey houses under construction
Taylor Wimpey was among the UK developers whose shares were trading about 1% lower on Friday morning. Photograph: Yui Mok/PA

Shares in one of the UK’s biggest estate agent chains and some of the largest British housebuilders fell on Friday, amid the latest warnings about the outlook for the housing market, as potential homebuyers are squeezed by rising interest rates and the cost of living crisis.

The share price of LSL Property Services, one of the UK’s largest estate agent chains, tumbled by as much as 11% after it warned on profits for the second half of the year and said conditions in the housing market had become more challenging than anticipated.

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