Lettings revenues rose by 5% annually at Foxtons in the first quarter of 2025, a trading update from the agency brand has revealed.
The update shows that Foxtons posted lettings revenues of £25.2m, while the sales side of the business was boosted by the Stamp Duty rush and revenue rose 73% during the first quarter to £16.4m – the highest since the 2016 Brexit vote.
Foxtons said £1.2m of letting revenue was attributable to the October 2024 acquisitions of Haslams Estate Agents in Reading and Imagine Property Group in Watford.
The update said: “Both acquisitions are performing in line with expectations, with the Imagine business fully integrated onto the Foxtons Operating Platform and operating under the Foxtons brand.
“The rapid integration of Imagine facilitated the further bolt-on acquisition of Watford-based Marshall Vizard in the quarter. The acquisition is expected to deliver strong synergies and scales the group’s recently established Watford hub, reinforcing Foxtons’ leadership position in the local lettings market. The acquisition demonstrates progress against the group’s strategy to consolidate market share in high-value commuter towns.”
