Company Tag: Foxtons

The London estate agency agreed a third more sales in the first three months of this year than in Q1 2023, while the lettings business saw an 'incremental' increase in revenue.

Foxtons says it is 'the first estate agency to implement the comprehensive digitisation of the property transaction process'.

London estate agency is working with NM Rothschild, reports The Sunday Times.

'Landlords must adapt' to new marketing conditions, warns Foxtons, while Chestertons suggests London landlords have 'little option but to start reviewing their prices.'

Foxtons 'has reclaimed the number 1 estate agency position in London' and 'is now in much better shape than the company I inherited 18 months ago,' says CEO Guy Gittins.

'Bricks and mortar has remained one of the most consistent investments one can make down the years and the long-term returns speak for themselves,' says Foxtons' boss.

Foxtons heralds 'a shift towards a more realistic lettings market, characterised by higher supply levels and less inflated demand.'

Rising revenue from lettings offset declines from sales and financial services in 2023, as the estate agency ploughs on with its 'operational turnaround plan'.

Foxtons trumpets a 'renewed sense of vigour' in the property market at the start of 2024

Demand and supply appear to be rebalancing to more sustainable levels.

'It’s fair to say that as planned, we are ahead of the curve,' says estate agency boss Guy Gittins as the market turns upwards.

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