Foxtons at present launched a buying and selling replace displaying year-on-year income development in each Q3 and year-to-date. Q3 income rose 3% to £49.0m, whereas year-to-date income elevated 7% to £135.1m, supported by robust efficiency in Lettings.
Non-cyclical, recurring revenues made up 71% of whole Group income within the quarter, serving to to offset weak spot within the gross sales market brought on by decrease shopper confidence and uncertainty across the delayed Autumn Price range.
Lettings
Q3 income rose 5% to £33.4m, up from £31.6m in Q3 2024. This development was pushed by £0.6m of like-for-like will increase, supported by operational enhancements that enhanced portfolio retention and boosted new deal volumes, alongside rental worth development. Acquisitions added £1.5m in incremental income, partly offset by a £0.3m decline in curiosity on shopper monies.
Yr-to-date income elevated 5% to £88.0m, in comparison with £84m for a similar interval final yr. This contains £4.4m from acquisitions and a £0.8m discount in curiosity on shopper monies.
Gross sales
Q3 income fell 7% to £12.5m, down from £13.5m in Q3 2024, pushed by decrease trade volumes amid lowered market transactions. Purchaser exercise in London slowed year-on-year, affected by offers pulled ahead to Q1 forward of the stamp responsibility deadline, restricted rate of interest cuts, and uncertainty over the delayed Autumn Price range.
Yr-to-date income rose 12% to £39.4m, up from £35.1m in the identical interval final yr, reflecting a robust Q1 efficiency because the Group benefited from elevated transactions forward of the March 31, 2025 stamp responsibility deadline.
Monetary Companies
Q3 income rose 37% to £3.1m, up from £2.3m in Q3 2024, pushed by elevated refinance exercise. New buy mortgage income remained regular regardless of a weaker gross sales market. This displays the resilience of the refinance portfolio and progress in lead era and adviser productiveness.
Yr-to-date income elevated 12% to £7.7m, in contrast with £6.8m in the identical interval final yr.
Renters’ Rights Invoice
Because the Renters’ Rights Invoice nears its ultimate phases in Parliament, Foxtons says it’s well-positioned to assist landlords via the upcoming regulatory modifications by offering skilled steerage and increasing its high-margin property administration companies.
Folks and tradition
In October 2025, Foxtons launched its new folks initiative, ‘Getting It Carried out. Collectively’ (GIDT). The framework brings collectively key components of the Group’s folks technique and guides how the enterprise works collaboratively.
Share buyback
On 8 September 2025, the Group introduced the graduation of an extra share buyback programme of up
to £3m, following on from a earlier £3m programme accomplished on 5 August 2025. As on the finish of buying and selling on
22 October 2025, a complete of seven.7m shares have been purchased again for a complete consideration of £4.3m on a year-to
date foundation.
Price optimisation
As a part of its price optimisation technique, the Group is advancing its deliberate head workplace relocation, which is ready
to ship significant price financial savings from January 2026 by considerably lowering the scale of the pinnacle workplace.
Outlook
Foxtons expects Lettings to carry out according to year-to-date traits for the rest of the yr, offering a steady earnings base.
Gross sales are more likely to stay subdued, significantly forward of the delayed Autumn Price range, which is creating market uncertainty and making This fall gross sales income troublesome to foretell. There’s a danger that This fall gross sales income might fall under administration’s expectations.
Full-year adjusted working revenue is anticipated to be between £21.5m and £23.2m (2024: £21.6m), with the vary reflecting uncertainty over the conversion charge of the gross sales pipeline.
Regardless of present gross sales market weak spot, the Group anticipates medium-term development. The give attention to Lettings continues to assist steady earnings and provides development alternatives. Gross sales circumstances might enhance following higher readability from the Autumn Price range and potential rate of interest cuts. With rebuilt operational capabilities, the Group is positioned to reply as volumes get better.
Man Gittins, CEO, stated: “We’ve got delivered one other quarter of development pushed by our strategic give attention to Lettings and its recurring revenues, which helped offset a softer Gross sales setting. Lettings stays the central a part of our development technique, underpinned by our main market place and powerful landlord proposition. Latest acquisitions in Studying and Watford are performing properly, and we proceed to construct a pipeline of Lettings centered acquisitions.
“Macroeconomic uncertainty and hypothesis surrounding the delayed Autumn Price range has resulted in a subdued
gross sales market as some consumers undertake a ‘wait and see’ angle to purchases. There stays vital pent-up
demand within the London quantity market and we consider market circumstances will enhance as soon as there may be higher readability
following the Price range, offering a extra optimistic backdrop as we execute in opposition to our development technique.
“Trying forward, we stay assured concerning the medium-term and our skill to execute in opposition to the technique we
set out at June’s Capital Market Occasion.”
Rental values stay ‘robust’ regardless of elevated inventory ranges – Foxtons
