Strong start to the year for Foxtons

Foxtons plc, London’s leading estate agency, issued today  its trading update for the quarter ended 31 March 2016.

Total group revenue for the quarter was £38.4m, up 16.2% compared with the first quarter last year.

 Lettings revenue was flat on prior year as tenants continued to renew existing tenancies and enter into longer tenancy periods.

Nic Budden, CEO, said: “We have had a strong start to the year with a record first quarter driven by a number of sales transactions being brought forward before the introduction of the additional stamp duty surcharge on buy-to-let properties. Nevertheless, we expect the first half of the year to be challenging with a reduced sales pipeline entering into Q2 and the underlying short term impact on transaction volumes from the uncertainty around the European referendum. Our expansion strategy remains on track as we continue to increase our market share in outer London.”

To see the trading update in full click here

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Home and Living

Laundry Room Essentials Every Home Needs

A well-equipped laundry room is key to maintaining a smooth and efficient household. Whether you have a spacious utility area or a compact corner dedicated to washing and drying, having the right essentials can make all the difference. From practical appliances to useful accessories, here are the must-have items every home needs in its laundry…
Read More
Estate Agent Talk

First-time buyers now face £33k in upfront costs

First-time buyers now face an average upfront cost of just under £33,000 to purchase a home—a rise of more than £1,000 (3%) compared to 2024. But why is buying a home so expensive? How can first-time buyers reduce these initial costs? To help, Compare My Move has released a detailed report on the cost of…
Read More
Estate Agent Talk

Essential Car Tips for Estate Agents Spending Long Days on the Road

As an estate agent in the UK, you are likely to spend extended periods of time on the road, travelling between properties and meeting clients in various locations. Considering the magnitude of your driving responsibilities, following a few vital car tips can considerably make your job easier and safer, whilst also saving you money in…
Read More
Kerb appeal
Breaking NewsEstate Agent Talk

Response to Latest Halifax House Price Index

Halifax house price data shows property prices have risen by 0.7% month on month, here are some thoughts from the industry.   Nathan Emerson, CEO of Propertymark: “As we embed ourselves into 2025, confidence is being echoed within the housing market, as house prices and mortgage lending remain buoyant. “With the Bank of England announcing…
Read More
Breaking News

Halifax House Price Index – January 2025

House prices in January 2025 were 3.0% higher than the same month a year earlier. The housing market kicks off 2025 with price rise to hit new record high • House prices increased by +0.7% in January following dip of -0.2% in December • Average property price of £299,138 is a new record high •…
Read More
Breaking News

Landlords Respond to Government’s Energy Efficiency Plans

Responding to the publication of the Government’s consultation on the energy efficiency of privately rented housing, Ben Beadle, Chief Executive of the National Residential Landlords Association, said: “We all want to see rented homes as energy efficient as possible, but that will require a realistic plan to achieve this. “The chronic shortage of tradespeople to…
Read More