It looked like bad news for housing last week. There are mixed reports over whether Rishi Sunak will extend the stamp duty holiday — and the uncertainty is not helping.
So how will Foxtons, the London-listed estate agent focused exclusively on the capital, grapple with the change? After floating at 230p a share in 2013, at the height of the post-crisis property boom, Foxtons has rarely failed to disappoint, but its sales teams have failed to fend off increased competition from low-cost online rivals or navigate the unstable London property market. The shares have bobbed around and were trading at 95p before the pandemic came calling.
The London market has slowed and potential home buyers can now choose from rivals such as Purplebricks, which charges