Wednesday, May 7, 2008
Rightmove fear the worst
With up to 150 estate agents closing per week and 4000 jobs lost in 2008 Rightmove still remain confident
Rightmove has warned investors in its annual report that with increasing numbers of estate agents closing, (150 a week according to a recent report) and up to 4,000 jobs lost in the sector in 2008 the slower housing market would inevitably take its toll on their results. The firm stated that its retention rate for estate agents - the proportion who keep using the website to advertise properties - has slipped to 85 per cent this year, compared to 92 per cent in 2007.