Estate agency and surveying giants Countrywide and LSL Property Services have confirmed that they are in merger talks.

Both companies made stock market announcements this morning following speculation in the media.

Countrywide, which was founded in 1986, owns the Hamptons International and Bairstow Eves brands and has more than 60 branches on the high street.

While it is the larger firm in terms of employees, its market capitalisation has fallen to £110m and management have been closing branches in recent years.

LSL was created from a buyout of YourMove and E.surv from Aviva in 2004.

LSL also includes Marsh and Parsons, the Primis network, The Mortgage Alliance, Mortgage Gym.

The stock market announcement says: “Discussions between Countrywide and LSL are ongoing. 

“At this stage, there can be no certainty that any offer will ultimately be made for Countrywide.

“A further announcement will be made when appropriate.”