Countrywide Falls to Lowest Since 2013 as Housing Market Weakens

Countrywide Plc, the U.K.’s largest real estate broker, fell to the lowest since the company’s initial public offering in 2013 as the Brexit vote and an increase in sales tax damped demand for homes.

Earnings before interest, depreciation, taxes and amortization this year will be at the lower end of market expectations, the broker said in a statement on Thursday. The shares fell as much as 14 percent to 165.9 pence in London trading, the lowest since March 2013. They were trading at 168 pence at 8:25 a.m.