Halifax to close 53 estate agents branches

10:48am Thursday 28th August 2008

SIGNS that the housing market slump is gathering pace became clearer last week when Halifax announced it is closing 53 of its estate agents.

The Advertiser understands branches in Bishop Auckland and Durham are among those affected, but Halifax would not confirm this. A spokeswoman said the company was still consulting with staff over the closures.

Halifax has said the changes could lead to 100 job losses nationally.

About 550 staff will be affected but Halifax said about 450 of those, mostly mortgage advisers, would be relocated in the next four months. It said following the changes Halifax would concentrate on its core markets in the Midlands and the North, where it has 151 branches. Banking services are not thought to be affected.

The spokeswoman said: "The branch network will continue to sit alongside Halifax estate agents already very strong internet presence through Rightmove and Halifax Homefinder.

"A more focused branch network will enable HEA to focus on those towns where it has a strong market presence.

"The changes also reflect the significant decline in the level of housing transactions in the last twelve months."