The owner of the Marsh & Parsons and Your Move estate agents sent another chill through the property market today as it warned it was “cautious” over prospects next year.
LSL Property Services blamed tighter lending conditions for “recent lower activity levels across the market”.
The company is still on course for a record year but profit will be “marginally below our previous expectations” following the slowdown.
The shares eased 2%, or 6.75p, to 306p as it added: “With the recent reduction in activity levels and the further uncertainty around the general election next year, we are cautious on the market outlook for 2015.
“However, the medium to longer-term fundamentals of the housing market remain positive.”
The alert came as the Royal Institution of Chartered Surveyors’ latest market survey warned of slowing housing momentum.
London bore the brunt of lower demand from new buyers.
Demand fell for the fourth month in a row.
