A £2.5 million drop in profits – Can Foxtons Take it?

July 31, 2018

A drop in profits is never good for any business though is the latest £2.5 million drop in profits at Foxtons an internal issue of simply a sign of the current market?

Sales dropping, interest dropping in purchasing, stocks of listings increasing – Has this latest negative news from one of the UK’s most famous high street estate agency names showing us that the UK property market is slowly yet surely turning from a sellers market to a buyers?

Foxtons are quoted at saying sales are down though rentals are the avenue of their business that is improving, but can such a massive name in estate agency take such a hit?

It has been a year of negative figures for Foxtons, back in February the headlines from ‘This is Money‘ were “Foxtons reveals profits fall of 65% as home sales in London fall to ‘near historic lows’” as well as “City insiders say buy Spire Healthcare but sell struggling estate agent Foxtons” from the same media outlet.

Christopher Walkey

Founder of Estate Agent Networking. Internationally invited speaker on how to build online target audiences using Social Media. Writes about UK property prices, housing, politics and affordable homes.

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