Shares of EU have reportedly fallen 11% and 25% YTD respectively and are expected to face headwinds from falling GDP growth and uncertainty relating to the UK vote. Some commentators predict that if UK leaves the EU , demand for homes could fall due to decreased immigration and a reduced number of companies relocating to the UK . Online estate agents have also impacted the companies' growth, with firms such as easyProperty and eMoov offering cheaper fixed-fee property sales compared to traditional estate agents, which Countrywide blamed for the 3% YoY fall in average sale prices.
Shares of Foxtons and Countrywide have reportedly fallen 25% and 11% YTD respectively and are expected to face headwinds from falling GDP growth and uncertainty relating to the Brexit vote. Some commentators predict that if Britain leaves the EU, demand for homes could fall due to decreased immigration and a reduced number of companies relocating to the UK. Online estate agents have also impacted the companies' growth, with firms such as easyProperty and eMoov offering cheaper fixed-fee property sales compared to traditional estate agents, which Countrywide blamed for the 3% YoY fall in average sale prices.