Countrywide and LSL in merger talks
Countrywide and LSL are in talks over a £470m merger, which would bring together brands Hamptons International and Your Move.
It is estimated that between the two companies there are 14,000 employees and 1,000 estate agent branches.
An offer has not yet been formalised however talks are suspected to be sincere.
Countrywide has cited Brexit as hindering its market growth, with a £218m loss in 2018 and a £207m loss in 2017.
Since 2013 Countrywide’s worth has been deteriorating, dropping from £750m to £111m now.
LSL has also seen a decline, with it now estimated at £360m.
Despite both Countrywide and LSL recording recent losses, Shaun Church, director at Private Finance believes that across the property market, “we’re beginning to see very early signs of what many are coining the ‘Boris Bounce’.”
He continued: “Such an uptick in activity is likely to continue and increase in the coming months as the transactions inspired by the outcome of the general election begin to complete in early Spring.
“With growing appetite amongst buyers and continued growth in house prices, those sellers that have delayed and debated putting their home on the market and making a move should be encouraged by these latest figures.
“With the Budget just around the corner, some may be stalling to see whether the Chancellor delivers any generous cuts to Stamp Duty before making a move.
“However, we’d encourage buyers to press on with their plans and not to delay any further.
“With house prices back on an upward trajectory and activity starting to pick back up, any further postponement could mean buyers miss out on the opportunities currently present across the market.”