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Why Countrywide’s first quarter wasn’t as bad as it looked

Estate agent sees completions fall nearly 30% but faced tough comparative figures

Estate agent Countrywide (CWD) suffered a 29% year-on-year decline in house sale exchanges in the first quarter of 2017.

While this sounds terrible, the decline was most likely distorted by last year's comparative figures.

There was a rush of sales in the first quarter of 2016 ahead of a rise in stamp duty for the purchase of additional residential properties from April 2016. Therefore Countrywide always faced a tough task this year in trying to match last year's sales surge.

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04 May 2017

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