Purplebricks issues profit warning and puts itself on the market

Estate agent, once at the vanguard of online property sales, has seen its value fall since 2018

Purplebricks has put a new asset on the market: itself. The online estate agent issued a profit warning and said a strategic review could result in the sale of the company.

The company said on Friday its efforts to cut costs had “involved more disruption to the sales field than originally envisaged”, adding £1.2m in costs and pushing down the number of people who signed up to sell their houses using the website.