Countrywide says overall market for housing transactions in the UK was down 7% in the period

July 27, 2017

Countrywide PLC today announced Interim Results for the six months ended 30 June 2017.

They stated; The overall market for housing transactions in the UK was down 7%.  Our sales market share held broadly flat at 4.9% (2016: 5.1%) despite the effect of the on-going transformation of the business; we held or gained market share of listings in brands offering the digital proposition.

Commenting on the Group’s performance, Alison Platt, CEO said:

“We are building a stronger business for our future and remain on track with our goals to broaden our digital capability, reduce our operating cost base and strengthen our balance sheet.  Based on our current performance and the outlook for housing transactions in the UK, we expect our results and our leverage for the full year to be within the range of market expectations.

“As anticipated, the first half of 2017 was tough for the Group compared to the same period last year given the high levels of housing transactions brought forward in time as a result of the stamp duty changes and the EU referendum.  Our income versus the first six months of 2016 is down 10% and our adjusted EBITDA down 26%.

“We continue to serve our customers better, and this manifests strongly in our ability to win repeat business in lettings.  Our digital proposition in sales is also proving to be an important element in bringing choice and attracting more applicants and vendors to our brands.  At the same time our investment in a telephony sales channel in Financial Services is helping to grow our share of the mortgage market.  Our Surveying business has grown its profitability and increased the amount of mortgage valuations it has undertaken for its lender clients this year.  We are continuing to reshape our cost base, with total costs down £27 million from the six month period to 30 June 2016; we will continue to drive down cost and improve our productivity across the Group.

“Delivering for our customers and ‘self-help’ remains our mantra as we continue to build a stronger and more resilient business for the future.”

Read the Countrywide PLC Interim Results for the six months ended 30 June 2017 in full click here.

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Estate Agent Talk

Get Fast and Reliable Basement Flood Cleaning Services

Having water in your basement is awful. It could be because of a storm, busted pipe, or bad sump pump. Whatever the reason, water damage in your basement has disastrous effects if not dealt with. Basement Flood Cleaning Services are what you need. They will dry it out, disinfect the floor, and have your basement…
Read More →
Breaking News

UK House Price Index summary: June 2025

The average monthly rate of house price growth in June was 1.4%. The average annual rate of house price growth in June was 3.7%, up from 2.7% in May. As a result, the average UK house price remains at £269,000.   CEO of Yopa, Verona Frankish, commented: “June’s figures reflect a market that is steadily…
Read More →
Breaking News

Private rent and house prices, UK: August 2025

Average UK monthly private rents increased by 5.9%, to £1,343, in the 12 months to July 2025 (provisional estimate); this annual growth rate is down from 6.7% in the 12 months to June 2025. Average rents increased to £1,398 (6.0%) in England, £807 (7.9%) in Wales, and £999 (3.6%) in Scotland, in the 12 months…
Read More →
Breaking News

Industry response to latest inflation figures

Nathan Emerson, CEO of Propertymark, comments: “Unfortunately, any increase seen within the rate of inflation does brings very justified concerns to consumers, many of whom are still struggling with the cost of living, which has been steadily rising over the past few years. “Although there is more work to be done to help ensure inflation…
Read More →
Breaking News

London lettings market bolstered by record supply and resilient renter demand

· Supply conditions improved materially in July, with almost 50,000 new rental listings recorded, up 4% from June and 12% higher than July 2024. This represents the highest monthly volume in the last four years. · Renter demand strengthened notably in July, with a 25% uplift in new applicant registrations month-on-month. Compared with July 2024,…
Read More →
Breaking News

Bridging finance key in driving uplift in auction activity

The latest analysis from specialist lender, Octane Capital, has revealed that auction sales across England have climbed by almost 9% over the past year, with auction buyers increasingly turning to bridging finance to meet strict completion deadlines and capitalise on below-market investment opportunities. Octane Capital analysed the latest figures* on both the volume of auction…
Read More →