Property downturn hits Your Move, branch closures

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by Kay Murchie

Further evidence of a housing slowdown comes after Your Move, the country’s third-largest estate agency, closes 10 of its franchised branches.

The branches, mostly in the South-West cover affluent regions including Taunton, Somerset and Bristol’s Clifton suburb.

LSL Property Services, the owner of the estate agency Your Move and Reeds Rains, closed 12 branches late last year which resulted in 315 job losses.

The closures indicate that a much needed ’spring effect’ in the housing market is failing to materialise.

Estate agency, Humberts, recently announced annual losses of £17 million.

Your Move has around 300 offices in the UK of which over 100 are franchised. The group was formerly known as General Accident Residential Lettings.