Foxtons’ revenue climbs despite sales drop
London estate agency reports rental revenue growth as it continues drive to 'decouple earnings from sales market volatility'.
"I am encouraged by the early results achieved to date," says Foxtons boss Guy Gittins, as "operational improvements" bear fruit.
"Property prices have held up reasonably well but transactions have slowed, leading to a high number of agreed sales being delayed to the second half of the year," says leading estate agency.
Like other property PLCs, Savills' profits have surged this year. The firm's UK Residential Transaction Advisory business posted record revenue in H1, nearly doubling (+97%) compared to last year.
Companies in this articleFoxtons
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Edvin Griskin won numerous awards as a top negotiator at his former firm.
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Charles Lloyd, aka 'Mr Mayfair', has rejoined the luxury agency from CBRE.
Agents confirm sale of final unit at developer's 'landmark' Harcourt House project, which attracted interest from around the globe.
An unusually large number of rarely-available residences have been changing hands in NW3 lately, notes Aston Chase.
A new partnership 'merges the world of real estate and automotive excellence to set new standards in luxury design and living.'
'Strong demand and tight supply' will 'overshadow higher interest rates' to push international home values up in the coming year, says Reuters after polling over 100 property market experts.