Estate agent Foxtons warned it was battling a “prolonged” downturn in the London housing market as it unveiled its first ever loss as a listed company.
The number of homes sold in the capital have fallen off a cliff in the past two years because of an increase in stamp duty and uncertainty over Brexit, leaving Foxtons nursing a 15% slump in 2018 sales revenue to £36m.
Its lettings business held up more robustly, generating a 1pc rise in revenues to £67m.
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