» Rightmove has lost 15% of Estate Agents

In last 12 months 15pc of estate agents have left Rightmove

Article Published: 14th November 2008

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Conveyancing Services

<p>Rightmove one of the UK's leading websites advertising Estate Agents properties has announced that in the last year 15% of estate agents on its website have left. They say that many of these have been removed due to non payment of fees and that many have now ceased trading.

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<p>This means that on a monthly basis there are about 300 fewer estate agents displaying their properties to buy or rent on Rightmove.

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<p>Graham Zacharias, Rightmove Finance Director said &quot;The UK housing market continues to be challenging, with very few housing transactions, resulting in a significant number of estate agents leaving the market&quot;.

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<p>Last month Rightmove announced it was cutting 20% of its workforce a total of 80 staff.</p>

Mr Zacharias said " We are still well placed to deal with this current slump", but their shares have fallen on this news.