I don’t see all estate agency moving online, and think this company will recover in the long term as the UK market stabilises. The share price already has the most extreme form of Brexit priced in IMO.
With the election around the corner and the conservatives look set to win a majority, UK property could start moving again. Foxtons has been battered with the Brexit uncertainty and slow London housing market. This situation won’t last forever and for me FOXT is a buy around these levels. Let’s get the stock on FT fast!
Three Foxtons (FOXT) board members topped up their stakes in the estate agency after third-quarter instructions surged thanks to the stamp duty holiday and pent-up demand. Chief financial officer Richard Harris, non-executive chairman Ian Barlow and independent non-executive director Alan Giles bought aggregate shares of just over £125,000.