Dominic Agace
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Latest property news
Winkworth share price jumps by 13% following upbeat full-year results
Shares in Winkworth jumped by nearly 13% yesterday on the London Stock Exchange following the publication of its results for 2019. Although the firm admitted that last year was a ‘difficult period’ for its franchisees across London and the South of England, City investors hoovered up its stock, pushing the Winkworth share price from £1.41p to £1.50 in a matter of minutes following its full-year trading results. The highlight of these were increased market share which in London rose from 3.6% in 2018 to 4.2% last year putting it in second place for SSTC and in fifth place for new listings with just over 3% of the market. The company wouldn’t tell The Negotiator who the No.1 in London was ahead of its SSTC performance but looking at Rightmove data, it’s most likely to be Savills. Difficult market Both companies are operating in a very soft market; Winkworth says prices within prime central London are up to 20% lower than the 2014 peak and 10-15% down in outer London. But its branches outside London have seen a recent uptick in transactions as the Brexit logjam appeared to shift during the run up to the General Election. “Our professional network and…
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Movers & Shakers
Winkworth fills new Head of Talent role
Winkworth Franchising Ltd has announced the promotion of Lucy King to Head of Talent (New Franchising and Recruitment).
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Features
Why agents flock to property franchises during downturns
With a lot of hard work and commitment, a franchise could get you where you want to go a lot more quickly, says Nigel Lewis, but which franchise might be the best bet for your future?
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Latest property news
Winkworth opens in UK’s happiest place to live
Winkworth Franchising Ltd has opened a new office in Leigh-on-Sea, Essex.
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Latest property news
London sales market to see post-Brexit boom claims leading franchised agency
As a slowdown in sales continues at Winkworth in London the company is hanging its hopes on buyers and sellers returning to the market once political uncertainty has ended.
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Latest property news
Improved lettings and commission rates protect Winkworth from declining sales market
Increasing lettings income and higher property sales commission rates have protected Winkworth for the overall struggling housing market.
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Charity
Winkworth supports Habitat for Humanity
Winkworth has a partnership with Habitat for Humanity Great Britain, an affiliate of the global Habitat for Humanity which fights poverty, providing safe homes for those in need.
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Movers & Shakers
Another stellar year of growth for Winkworth
Winkworth Franchising Ltd reports excellent growth in 2017, with seven new offices taking its network to 100.
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Latest property news
Winkworth about to pass 100-branch milestone
Winkworth says its branch network is about to go past the 100-mark when it opens three new offices during the opening months of this year. This is on top of seven new branches opened last year including colds starts in Cheltenham (pictured, right), Sunningdale and Surbiton in London, three existing agencies converting to the Winkworth brand in Kingsbury (in London) and Dartmouth and Torbay in Devon plus an extra branch for an existing franchisee in Milford-on-Sea in Hampshire. The company also says it has seen an unusually busy period of new enquiries coming in about franchising opportunities – up by 26% year-on-year during 2017. Winkworth’s current expansive activity is down to, in part, the re-hiring of former franchisee Michael Stoop in July who, after 25 years spent away from the firm working for several franchising giants including Martin & Co, is now working for Winkworth as a consultant. “Following the success of last year, we’re putting more emphasis on our expansion over the course of 2018 to ensure we have a strong network of offices supported by some of the most skilled people in the industry,” says Winkworth CEO Dominic Agace (pictured, left). “We’re always on the lookout for experienced…
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Latest property news
Winkworth reports sales down 18% as market difficulties bite
The difficulties of the property market in prime London and its suburbs and commuter towns have been laid by bare by the latest results from franchised network Winkworth. Its head office operation has reported its network’s gross revenues for the first half of the year down by 9% year-on-year to £21.4m, sales down 18% to £11.7m and lettings down 2% to £6m. The bright spots of the figures are property management revenues, which increased by 15% to £3.7 million, and the central London market where the weak pound has driven increased investment in property by overseas investors. “Prices have remained steady in the more domestically-focused outer London markets, supported by low interest rates and high employment, but affordability issues continue to affect transactions,” says Dominic Agace, Chief Executive Officer of Winkworth (pictured, left). The company also says the strength of its brand is more than a logo, and that despite soft transactions and reducing prices in many areas of London and beyond, Winkworth-sold properties achieved average prices 2% higher during the first six months of the year, compared to the same period last year. “With the sales market subdued, our investment in the lettings and management side of the business…
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