Belvoir Group’s revenue increased by 41% during the first six months of the year compared to 2020 and up by 53% compared to 2019, it has revealed.

The company reports a ‘very buoyant’ housing market during the period, which covers the huge rise in activity prompted by the stamp duty holiday.

Its financial services division has also helped; its revenue was up 62% on 2019 via organic growth of its adviser network.

In comparison to the same period last year the property division achieved revenue growth of 45%, of which 25% represented an increase in the underlying business and 20% from the Group’s investment in two franchise networks, Lovelle in January 2020 and Nicholas Humphreys on 31 March 2021.

The company’s franchisees are also doing well – Belvoir Group’s management fees revenue from them was up 100% compared to last year and up 68% compared to 2019.

Sales pipeline

Belvoir Group says its strong sales pipelines and the ongoing demand for property suggests that the government’s transitional approach to ending the stamp duty holiday, which finally ends on 30 September, has ‘succeeded in avoiding the cliff edge’.

Belvoir says lettings is doing well too and was up 19% on last year, as is did its financial services division, where revenue increased by 51% compared to last year, helped by its recent acquisition of the mortgage arm of the Nottingham Building Society.

Dorian Gonsalves (pictured), CEO of Belvoir Group, says: “We continue to see exceptionally strong trading across the Group, well ahead of our expectations as at the start of the year.

“Our residential property sales hit a peak in June and pipelines remain strong.  Lettings has achieved growth from increased rental activity and tenant demand creating an upward pressure on rents.