Editor's note: This brief was summarised by The Property AI Newsroom from a report by The Negotiator. Read the original article for full details.

Connells Group Reports £500,000 Loss Amid Challenging Market

Connells Group recorded a loss of £500,000 during the first six months of 2026, according to Stuart Haire, Group Chief Executive of parent company Skipton Building Society. This result contrasts with the same period last year, when Connells Group reported profits of £28.4 million.

Skipton Building Society attributed the loss to a weak sales market in 2026, citing a “later than usual Budget and political uncertainty.” The market was described as active but cautious, with the number of exchanged contracts down 7% and the sales pipeline down 5% compared to the previous year. The conveyancing system was also highlighted as a factor, with sales taking longer to progress from offer-agreed to exchange.

Despite the challenging sales environment, Connells Group reported improvements in lettings income from fees to landlords. The company’s lettings book increased marginally, reaching 122,872 properties under management.

Connells Group is also undergoing restructuring following its merger with Countrywide and is refurbishing branches. New Chief Executive Helen Charlesworth has overseen the introduction of new technology across 1,200 offices, including 15,000 new PCs and telephones.

The company has experienced significant leadership changes in recent months. Former CEO David Livesey won an age discrimination claim at an Employment Tribunal after his departure from the firm, and other executives, including former interim Chief Executive Richard Twigg, have also left the company.

Skipton Building Society, Connells’ parent, reported profits of £99.6 million for the same period.