The recovery in demand for houses has meant that after a challenging couple of years H1 figures show Winkworth had a bright start to 2024.

Winkworth’s network revenues were up by 6% when compared to the same period in 2023 at £27.9 million and sales revenues were up by 9% to £13.4 million.

And the network lettings’ revenues rose by 4% to £14.5 million, with sales accounting for 48% of total revenue, up from 47% in 2023.

The majority of offices generated revenues of at least £1.51 million.

Winkworth’s own revenues saw a 20% jump to £5.14 million with a 26% profit before tax.

According to the report, three new offices were opened in H1, four were refranchised and there was a dividend of 6.0p per share.

As was reported in The Neg in July, the figures were broadly in line with expectations.

Confident

Dominic Agace, CEO of the Company, said the results: “Reflect an uptick in sales, with a greater number of properties coming to market and transactions returning to more normalised levels.

“Our lettings and management business has been more subdued but underpins a strong performance from the group. With an above average number of franchisees expected to be added in 2024, we are confident in the outlook for the second half and beyond.”

He then added: “Now that the Election is behind us and a government with a strong majority is now in place, ending years of political uncertainty, and with interest rates set to decline, early indications suggest that activity in the property market will increase.”