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Foxtons Share Price And The Housing Market - Merged


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Foxtons fairly static this morning, but Rightmove and Zoopla taking a hammering. Something up with the portals?

Yeah, the asking prices.

Share down about 1.5% today, so not so flat at the mo, only 3 pennies above the all time low.

Still worth watching ( and laughing ).

Edited by TheCountOfNowhere
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Not a bad price for a company corprised of second hand house sales people

Funny should say that:

http://en.wikipedia.org/wiki/Estate_agent

" Some people in the UK use the term "2nd hand house salesmen" to describe estate agents due to their business being much likened to 2nd hand car salesmen."

:lol: :lol: :lol:

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Oh dear, someone's cage has been rattled:

http://www.lse.co.uk/ShareThread.asp?tcode=j38y15xz8t&ShareTicker=FOXT&msg=1

"Unless the government is going to build 100 000's of homeslb_icon1.png in London or very close commuter belts from there the London market will continue to grow. Simple demand and supply.
The issue has to be that if someone cant afford to buy they will have to rent somewhere and if there is a strong rental market there is an appetite for BTL investors and the cycle continues."

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So what point are we all going to call bottom and buy into it?

not for many tens of pence yet surely

160 as mentioned by killer bunny seems a reasonable target for now, but that needn't be the end of it

I'd rather buy at 170 on the way back up than 160 still on the way down

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not for many tens of pence yet surely

160 as mentioned by killer bunny seems a reasonable target for now, but that needn't be the end of it

I'd rather buy at 170 on the way back up than 160 still on the way down

Makes sense to wait for a decent turn and break in the downtrend.

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Why shouldn't it ultimately be similar to the dotcom bubble bust maybe over a longer time frame. The market in that sector just went down and down and down and down .....................................................................and down again. Then it went down again.

Edited by billybong
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The UK’s largest estate agent, Countrywide, is to buy back its own shares at a cost of up to £20m.

It will be using brokers Jefferies International to make the purchases, starting yesterday and continuing to March 31.

The objective is to reduce the issued share capital of Countrywide.

It will keep the shares as treasury stock, which means they could be available for reissue.

Countrywide floated on the stock market – for a second time – in March last year with a starting price of 350p per share, which rapidly went up.

Over the last six months, the business – valued at £990m – has seen its shares drop sharply from a high of nearly 700p.

Yesterday’s announcement sent its shares shooting up from 454.90p to a peak of 480p before finishing at 469p.

The company said that given the shareholding in Countrywide of Oaktree Capital Management (UK), it could increase the percentage of Oaktree’s voting rights to between 30% and 50%.

This could trigger a “mandatory offer” under City rules on takeovers and mergers.

However, Countrywide said that if necessary, it would consult with the Panel on Takeovers and Mergers and obtain further shareholder approval should it look as though such a situation would arise.

Another property firm which has been busy buying back its own shares is Rightmove.

http://www.propertyindustryeye.com/countrywide-buy-back-20m-shares/
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