PRS: A growing sector
What an impressive document the 2018 English Private Landlord Survey (EPLS) is. This national audit of landlords and letting agents who own and/or manage privately rented properties in England was last carried out in 2010, …
Ah the F word – Foxtons. It’s an agency often used as a barometer of success in the property world and its latest figures show a slide in sales. An industry journalist reporting on the results described lettings as keeping the agency ‘above water’ – making up for the losses incurred by poor sales, especially in London.
Lettings income within Foxtons is rising, bringing in £1 million more in revenue during 2018 than in 2017 (up from £66 million to £67 million). An astonishing £12 million of revenue from lettings was generated in the last quarter of 2018 alone – a rise of 4% when compared to the same quarter in 2017.
Now let’s bring that lettings income into perspective. Foxtons’ sales revenue for 2018 was £36m – down from £43 million in 2017. The figures speak for themselves and with forecasts showing that almost 1 in 4 households in England will be renting privately by 2021, a huge opportunity presents itself.Back to knowledge hub