Halifax Estate Agents will continue to have a presence in Northern Ireland following the announcement that 53 branches in the UK will close.

The closures will lead to up to 100 job losses nationwide, although the group said the majority of staff employed in the affected branches would be transferred to similar roles in its branches.

A Halifax spokesperson said they were not releasing details of which branches will close at this stage, including the 16 branches in the Province.

She added: “Halifax will continue to have a presence in Northern Ireland.

“We will be focusing our business on areas where we are strong, including the north of England and the Midlands,” she said.

The company said the move followed a need to reshape the business in the current market conditions, following a significant decline in housing transactions in recent months.

The group declined to give the location of the affected branches as it is still in the process of contacting staff.

But it said following the changes Halifax Estate Agents would concentrate on its core markets in the Midlands and the North of England, where it has 151 branches.

Halifax added that the smaller branch network would enable it to focus on towns where it has a strong market presence.

A total of around 550 staff will be affected by the move, but Halifax said around 450 of these people, many of whom are mortgage advisers, would be transferred to similar roles in its banking branches over the coming four months. But up to 100 jobs will go by natural staff turnover or voluntary redundancy.

The group said the closure of the branches and the reductions in central support for these branches would generate savings.

Estate agents have been hit hard by the combination of falling house prices and the credit crunch.

Buyers are putting plans to move on hold until the outlook for the market becomes clearer, while those who still want to go ahead with a purchase are struggling to raise the finance they need.

Recent figures from the National Association of Estate Agents showed that estate agents sold an average of just six properties each during July.

Halifax is working with unions Accord and Unite on the transfers and job cuts.

An Accord spokesman said it was working with its members to help them make the transition from an estate agency to a bank branch.