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 profit from elevated market transaction volumes within the first quarter forward of the stamp obligation 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 yr.
Commenting on the newest figures Foxtons chief govt Guy Gittins stated: “It’s been a strong begin to the yr, with income up 10% and adjusted working revenue rising 31%. The lettings enterprise has continued to carry out properly, 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 obligation deadline.”
He added: ““We count on a more difficult second half for the gross sales market in comparison with the first, and whereas we welcome the Government’s new mortgage assure scheme as a constructive step, the property market additionally requires a complete evaluation of stamp obligation to assist stimulate development and enhance entry to house 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 offers us continued confidence in delivering our development technique.”
