Major Lender To Close Estate Agent Branches

Around fifty estate agencies owned by the Halifax are to be closed as the housing market fails to sustain them. Around 100 jobs are likely to be lost following the closures.

The Halifax has been forced to cut back on the estate agency branches as there is just insufficient business to keep them going. The last year has seen the levels of business plummet and with no revival in the short term expected there is little choice but to close the branches. The Halifax will concentrate primarily in the Midlands and North of England now, areas where they are strongest.

The 50 estate agencies that close will see over 500 staff without jobs, but the Halifax aim to find alternative employment for most of these, with the remainder being lost through voluntary redundancy and people naturally moving on to new employment.