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

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.

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Christopher Walkey

Founder of Estate Agent Networking and an internationally invited speaker on how to build online target audiences using Twitter and LinkedIn.

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