Real estate insolvencies jump 16% in Q3

The number of real estate firms in significant financial distress has jumped 16% in the third quarter compared to the same period a year ago. This is the highest year-on-year percentage increase across any sector measured in consultancy Begbies Traynor’s Red Flag Alert research. This deterioration has been even more marked since the EU referendum with a 78% increase in significant distress since Q3 2016. The report found property investors experienced a 35% increase in significant distress compared to the same period last year as falling residential and commercial property prices combined with reduced consumer and business confidence had an