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Agencies & People

LATEST: boom housing market drives up property sales pipeline by 247%

Hunters and Martin & Co parent company reports an extraordinary six months and says it is optimistic about rest of year too.

Nigel Lewis

tpfg boards housing market

Hunters and Martin & Co parent company TPFG has reported a bumper first six months of the 2021 housing market.

This includes revenues up by 117% to £11.1 million across its seven estate agencies.

The nature of the housing boom is clear to see in its results – even when compared to the same period in 2019 before the pandemic, TPFG’s turnover is up by 29% and its profit before tax up by 54%.

CEO Gareth Samples says the boom has taken place in all markets and areas and across all its brands, including both sales and lettings.

He says initial trading results for this month show the boom may be tailing off, but that a shortage of stock means there are too many buyers fighting over too few homes for sale and rent.

Income across its network of branches increased by 118% to £89.4 million year-on-year while franchisee’s sales pipelined jumped by 247% to £29.7 million, up from £8.5% million in 2020.

TPFG’s hybrid agency, Ewemove, saw significant growth, gaining 37 new territories compared to just six the year before, taking it to 152 territories in total including 142 up and running and 10 ready to launch.

Housing market

The contribution by newly-acquired Hunters to the TPFG results is largely left out of the results, although it has resulted in a jump in the number of properties under management, up from 58,000 to 73,000 year on year.

Link to Who Goes Where“We have capitalised on the increased activity in both the residential lettings market and more notably residential sales market in H1 2021,” says Samples (pictured)

“This, together with signs that the sales market continues to perform strongly into the second half, means that we now anticipate reported profits to be ahead of current market expectations for the full year.

“We are early on in the execution of our strategic growth initiatives and are delighted to already be on track to meeting ambitious targets.”

Read more: Interview – why the future of EweMove is far from ‘woolly’ 

September 14, 2021

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