Foxtons now has ‘largest property market share’ – claim

Foxtons is finishing 2023 on a high after the latest industry data reveals the firm is both the fastest growing UK letting agent as well as the fastest growing UK sales estate agent.

TwentyCi analysed the market of both UK sales and lettings agents between the 1st January 2023 and 12th December (latest available data) before comparing this to the same period last year.

36% INCREASE

The figures show that Foxtons has seen a 36% increase in market share across the UK lettings sector in 2023 when compared to last year.

Across the UK sales market, Foxtons growth has been equally as dominant, with the firm seeing its market share climb by 28% year-on-year.

This rate of growth also outperforms the closest competitor, with Connells ranking second having seen a 9% increase year on year.

Guy Gittins, Foxtons Chief Executive, says: “In 2023 we have driven an enormous amount of change throughout Foxtons, investing heavily in our people, technology and brand.

“The hard work and dedication of each and every person at Foxtons has meant we have not only reclaimed our position as London’s largest sales and lettings estate agency brand, we’re also very proud to be the fastest growing sales and lettings brand across the whole of the UK.”

INCREDIBLE MOMENTUM

And he adds: “We now enter 2024 with incredible momentum and determination to continue relentlessly delivering the right results for our clients and customers.”

Last month The Neg revealed how a major Foxtons shareholder had urged the London agency to put itself up for sale.

Milkwood Capital, which owns a 4% stake in the listed company, says the only way it can make real progress is by being sold.

The investment fund joins fellow shareholder Converium Capital in pushing for a sale of the agency. Between them the two investors own 10% of the firm.

Main picture: Foxtons’ London office in High Holborn.