York-based Hunters says it has enjoyed a ‘strong’ first six months of the year revealing turnover marginally ahead of 2017 and also the opening of several new branches.

Although the 26-year-old company hasn’t revealed any financials, this would suggest it has turned over £17 million during the period, the same as its half-year achievement last year.

The company, which at 200-plus branches is the smallest of the stock market-listed franchised estate agents in the UK behind Belvoir and Martin & Co, says it enjoyed a promising first six months “despite the widely reported challenging conditions in the housing market”.

Acquisition fund

Since January the company has opened nine new branches and its acquisition fund, which helps franchisees bankroll the purchase of rivals or property portfolios in their areas, has prompted four such acquisitions since September last year, the company says.

“We will continue to focus on delivering a market-leading service to clients, laying the foundations for further growth this year,” says Glynis Frew, the company’s Chief Executive and now the only woman to head up a stock- market-listed estate agent following the departure of Alison Platt from Countrywide earlier this year.

Hunters’ update failed to excite City investors. The company’s share price remained flat at 56p today although it is down by 37% compared to a year ago, reflecting current investor interest in Purplebricks rather than traditional agents.

Hunters, which has been re-branding it branch network over the past six months, is one of the few PLC agencies to largely steer clear of proptech. Its only foray into the sector was in January when it signed up to Lavanda, an Airbnb lister that enables agent to offer their absentees clients extra income while they wait for their home to sell.