Arun – which has the brands of Douglas Allen in East London and Essex, Ward & Partners in Kent, Cubitt & West in Surrey, Sussex and Hampshire and Pittis on the Isle of Wight – saw a surge in lettings activity in the second half of last year.

There was an increase of seven per cent in new instructions, let property levels up by 15 per cent and continued portfolio growth despite the hostile tax and regulatory environment for landlords.

“We expect our portfolio to continue to grow at a similar rate to last year,” says a spokesman, “while our ongoing strategy of maximising potential yields means we expect to retain our existing landlords while also attracting new ones.”

It was less cheery in other divisions.

The number of new buyers fell by around 8.5 per cent in H2 2019 compared to the same period in 2018, although sales increased by some 7.95 per cent.

The group admits trading conditions for its Land & New Homes division we’re “challenging” in the second half of the year.

“While the Kent region, for example, showed a degree of resilience, with reservations up 18 per cent on the same period in 2018, this was still substantially down on the first six months of 2019” the firm says.