Foxtons Group has seen its income develop 10% in H1 2025 to £86.1m (H1 2024: £78.5m) and adjusted working revenue up 31% within the first half to £12.3m (H1 2024: £9.4m).
Breaking the income determine down the London property agent revealed lettings income up 4% and gross sales income up 25%, with a strong market place enabling it to learn from elevated market transaction volumes within the first quarter forward of the stamp responsibility deadline. Growth was additional supported by incremental acquisition revenues.
However monetary providers income was flat (the group owns the adviser group Alexander Hall), as greater new buy mortgage volumes have been offset by the phasing of refinance exercise, which is weighted in direction of the second half of the 12 months.
Commenting on the most recent figures Foxtons chief govt Guy Gittins mentioned: “It’s been a strong begin to the 12 months, with income up 10% and adjusted working revenue rising 31%. The lettings enterprise has continued to carry out effectively, offering regular, recurring revenues which underpin our development, whereas the gross sales enterprise benefitted from a rebuilt market share place and elevated market exercise forward of the stamp responsibility deadline.”
He added: ““We count on a tougher second half for the gross sales market in comparison with the primary, and whereas we welcome the Government’s new mortgage assure scheme as a constructive step, the property market additionally requires a complete evaluate of stamp responsibility to assist stimulate development and enhance entry to residence possession throughout all value factors.
“Despite the broader macroeconomic uncertainty, the Group’s strong monetary profile is underpinned by secure and recurring earnings from lettings and provides us continued confidence in delivering our development technique.”
