Purple Bricks issues profit warning and shares slump

Selling houses is very much a people business and although technology is making huge changes to the way we search for and find our dream home it still requires skilled people to make the process work smoothly. The TV agents with their up-front fees and pared back service delivery are finding that as the market gets tougher, the need for quality service just gets greater. This is part of the reason why the shine has come off Purple Bricks with their share price back to around the launch price of a pound from the dizzy heights of nearer a fiver reached a year ago. As the old adage goes, if you pay peanuts, you get monkeys.

EYE NEWSFLASH: Profits warning from Purplebricks