BUZZ-UK estate agents: Peel Hunt says commission rates to head south

** UK estate agent under pressure after brokerage Peel Huntsays average commission rates are heading only heading in onedirection - down

** London-focused Foxtons down 3.7 pct & 3rd toploser on FTSE 250 after brokerage starts with "sell"rating & TP 230p vs analyst avg mean TP of 220.44p

** "Estate agents operating in London potentially face thegreatest downside to commission rates given the absolute savingsthat vendors can make using a fixed price agent," brokeragewrites

** Peel Hunt initiates three peers with "hold" rating & pegsTP for Countrywide at 560p (vs Monday close of 597.5p),Savills 950p (vs 964.5p) and LSL Property Services 405p (vs 402.25p)

** Foxtons up c.75 pct YTD, Countrywide 37 pct, Savills 42pct & LSL reflecting 35 pct gain