Connells Group, owned by Skipton Building Society, recorded a loss of £500,000 during the first six months of 2026. This contrasts with a £28.4 million profit reported in the same period of 2025.
Stuart Haire, Group Chief Executive of Skipton Building Society, attributed the loss to subdued market conditions, citing a delayed Budget and political uncertainty. Buyer caution has reportedly impacted transaction volumes, with exchanged contracts declining by 7% year-on-year and the sales pipeline down 5%.
The company also noted delays in the conveyancing process. Ongoing restructuring costs related to the integration of Countrywide, which Connells previously acquired, also impacted the financial results. Connells' lettings division, however, showed modest growth, increasing its managed property portfolio to 122,872 units.