Transaction slump deals a blow to Countrywide’s profits

Britain's biggest estate agency Countrywide has reported an "encouraging" Q4, despite the general slowdown in transaction volumes and uncertainty around buy-to-let stamp duty and mortgage interest relief.

Countrywide has posted a big slump in pre-tax profits after a "difficult" H1. Announcing its results for the year to June, the UK's biggest estate agency said pre-tax profits of £28.

Countrywide, officially the UK's biggest estate agency and owner of brands like Hamptons International and John D Wood, has turned in a record set of results but warned of "sluggishness in market trends"…