A Rightmove advert on the London Underground. The property portal is to cut its charges to estate agents by 75 per centThe prospect of a collapse in the housing market has prompted the UK’s leading player in online property searches to dramatically boost its support package for struggling estate agents. Rightmove, which receives a monthly fee from agents and letting firms for listing homes on its website, said that there had been an abrupt and sharp slowdown in the market since the coronavirus outbreak. In recent days previously agreed sales have fallen through, the search firm said, adding that renting tenants were now more likely to stay put after the government guaranteed that they would not face eviction for failing to pay as a result of Covid-19. Just two days after agreeing a deal enabling agents to defer payments, Rightmove said that it would

Source: The Times March 21, 2020 00:13 UTC