Foxtons
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Latest property news
Brexit result worries the stock market
Housebuilders, banks and property agencies slip and slide as confusion reigns.
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Features
My time at the top
Peter Rollings famously helped steer Foxtons and more recently Marsh & Parsons to phenomenal success. Nigel Lewis meets him as he looks back on his career.
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Agencies & People
Stock options
Buy, sell, hold? Overperforming, underperforming – what does it mean when Rightmove shares go up, or Barratt falls out of bed?
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Features
How hot is your high street?
Everyone talks about national or regional figures for sales and lettings, but what’s it really like on the ground near you? Nigel Lewis finds out in Streatham, South West London.
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Latest property news
Foxtons’ profits fall
Foxtons saw pre-tax profits fall by 2.6 per cent in 2015 as the slowdown in the central London housing market, where prices are falling, adversely impacted on its business. The decline in profits to £41 million from £42.1 million was in line with expectations for the FTSE 250 indexed company, which previously warned of property headwinds in the market, causing its shares price to fall. The volume of homes changing hands in the capital fell by seven per cent in November 2015, compared with the corresponding month a year earlier, according to Land Registry figures. But the expansion of Foxtons’ mortgage broking business, which increased revenues by 31.8 per cent, helped to compensate for slower growth in income from sales as well as lettings. But in spite of the fall in profits, group revenue was up for the year to 31st December, rising 4.1 per cent to £149.8 million, supported in part by the opening of seven new branches last year, bringing the total at year end to 58. Foxtons plan to open a further seven offices this year, as part of a wider strategy to increase their coverage within the M25 area to 100 offices within the next five…
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Charity
Foxtons partners with London’s Air Ambulance
Foxtons has announced a three year charity partnership with London’s Air Ambulance. The charity was unanimously chosen by employees following the charity’s current ‘Your London...
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Agencies & People
Foxtons set to significant increase London presence
The multi-award-winning estate agency has announced that it wants to open as many as 42 new branches across London and the South East by 2020, as part of its strategy to increase its market share within the M25 area. Foxtons, which currently has 58 branches across the South East of England, says that it will be increasing their coverage within the M25 to 100 offices. Openings so far this year have included; Barnes, Walthamstow, West Hampstead, Ruislip and Bromley, while last week the company opened two more branches in Surbiton and Croydon. To mark the launches, Foxtons has been offering its familiar 0% commission offer for a limited time period, in a bid to boost local market share. Andrew Weir, Managing Director at Foxtons, said, “Our expansion strategy currently focuses on the outer London areas which are continuing to show considerable growth, and we look forward to bringing our 34 years of knowledge and expertise in the property market to these local communities.” News that Foxtons will be increasing its presence will undoubtedly be met with fear and anger from rival agents in some of those areas it targets. Earlier this year, estate agents in West Hampstead, North West London,…
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Features
Focus on the money!
“Everyone does their search on the portals, I don’t need my own site.” This, clearly, is nuts, says Jeremy Tapp.
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Features
How Foxtons accounts for its money
Specialist accounts software is a godsend when it comes to keeping HMRC and landlords happy, as Foxtons has found out.
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