Newspaper article Manchester Evening News

Estate Agents under Pressure as House Market Moves Online

Newspaper article Manchester Evening News

Estate Agents under Pressure as House Market Moves Online

Article excerpt

ESTATE agents could be next on the high street casualty list, with more set to experience financial difficulty as the housing market cools and online firms move onto their turf.

Experts at accountancy giant KPMG reckon that pressures on high street agents will come to a head in the second half of the year, piling further pain on town centres reeling from hundreds of retail store closures.

Blair Nimmo, KPMG's head of restructuring in the UK, said: "High street estate agents are presently facing an unprecedented set of challenges.

"The rise of online-only agencies have combined with falling house prices, a general slowdown in sale activity and a raft of legislative changes, all of which have generated headwinds for your average high street agent.

"I would therefore not be surprised to see operators across this sector struggle over the second half of the year and beyond. …

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