Foxtons - don't laugh

[scooterscot]

£85 to £45 in three months - ouch.

Seemingly Russian and Middle Eastern buyers are jumping ship. Don't buy property in London at the minute, catching a falling knife for sure.

[TheGreenBastard]

Similar performance to Verge and Dash over the same period.

FoxtonCoin

[LondonPM1]

£85 to £45 in three months - ouch.

Seemingly Russian and Middle Eastern buyers are jumping ship. Don't buy property in London at the minute, catching a falling knife for sure.

Actually it was 400pence when it IPOd in 2013 - Now it is 45 pence

Thats a drop of 87% - Impressive

Personally I dont understand Foxtons - They used to sell upmarket properties for time poor people - Nowadays they are trying to sell council flats and competing with Bairstow eves and the like

I dont think they will survive

[scooterscot]

I don't know enough about their business to make any intelligent comments regarding their performance or lack thereof. However the underlying chart tells me that the shareholders in a company that makes profits in a business dealing with property transactions are expecting the number of transactions to shrink and thereby also profits. This would be supported by the idea of growing economic uncertainly as the UK withdraws from EU. Investors don't like uncertainty so they act.

[TheGreenBastard]

I don't know enough about their business to make any intelligent comments regarding their performance or lack thereof. However the underlying chart tells me that the shareholders in a company that makes profits in a business dealing with property transactions are expecting the number of transactions to shrink and thereby also profits. This would be supported by the idea of growing economic uncertainly as the UK withdraws from EU. Investors don't like uncertainty so they act.

Terrible analysis - its share price has been in decline almost from day one, including periods when London property was growing 12% YoY.

[scooterscot]

Day one huh? Must be a non-profit organisation.

[OwlHoot]

Terrible analysis - its share price has been in decline almost from day one, including periods when London property was growing 12% YoY.

The writing was on the wall at least four years ago.

As I recall, Foxtons was charging 3% commission when most other estate agents were charging only 2% or thereabouts.

[scooterscot]

I'm not sure wealthy people gives two owl-hoots about fees given the y-o-y increase.

[scooterscot]

Its starting...

Rise in lenders valuing homes below sale price

[LondonManc]

Foxtons deserve all they get. It's a battle and a half to get your deposit back off them after renting, even if you leave the flat cleaner than when you took it on!