Foxtons continues downward trend

Foxtons

London estate agent Foxtons has issued another downbeat trading update, citing a “very challenging” market as the reason for sales falling in the first quarter of 2018.

In the first quarter of 2018 group revenue stood at £24.5m compared to £28.7m in the first quarter of last year. Sales revenue dropped to £8.2m from £11.1m at the same point in 2017. Alongside that, lettings revenues fell to £14.3m from £15.5m, while revenue at its Alexander Hall mortgage group nudged down to £2m from £2.1m.

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