Fletcher King has said it expects to report a loss for the first half of the year in line with reduced transactions as investors adopt a “wait and see” approach.
It said ongoing uncertainty and market dislocation continued to hold up investment deals, bank valuations and rating appeals.
The agent has also been hit by a severe contraction in the professional indemnity insurance market around property valuation work, with the renewal premium more than doubling, adding costs of more than £200,000 for the financial year.
