An update from estate agent Foxtons says the group started the second quarter with the “highest value under-offer sales pipeline since the 2016 Brexit vote,” which is giving the company optimism for 2024.
It reported £35.7 million in revenue for the first quarter, a 9% increase from the same period last year. The pace of revenue growth in its sales business was, interestingly, more than three times faster than for its lettings business.
Foxtons said its sales agreed in the quarter were 31% higher by volume compared to the first quarter of 2023. Activity is clearly picking up in what was a moribund market last year.
Photographer: Jason Alden/Bloomberg
