In its unaudited trading update for the year, the firm’s parent company Foxtons said this was driven by higher levels of refinancing and growth in purchase mortgage revenues. The group said this also reflected operational upgrades to improve productivity and increase connectivity with the estate agency.
Its letting and sales revenue each rose by 5% year-on-year, and Foxtons said the wider group saw notably strong revenues in the first three months of 2025 ahead of the stamp duty threshold change.
Activity slowed later that year as speculation around the Autumn Budget added to broader economic uncertainty.
Foxtons delivered a revenue of around £172m, a rise of around 5% on the previous year. Its adjusted operating profit was flat at £22m.
Alongside its trading update, Foxtons announced it had acquired estate agency Cauldwell Property Services to expand its presence in Milton Keynes and drive its growth.
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In 2025, it also increased its revolving credit facility from £30m to £40m to support acquisitions.
Looking forward, Foxtons said lettings would remain resilient, supported by tenant demand and good stock levels, and sales revenues for the first quarter would be lower than the previous year.
However, it expected a more stable sales market caused by pent-up demand and lower mortgage rates.
Foxtons said it would deliver revenue and profit growth this year. The group is expected to publish its full results in March.
Guy Gittins, chief executive of Foxtons, said: “Despite economic headwinds and fiscal events creating uncertainty in our markets, the group delivered acquisition-led revenue growth and continued to make progress against our strategy.
“Through continued progress against our growth strategy, and underpinned by our portfolio of high-quality, recurring lettings revenues, we are confident in our ability to grow group revenues and profits. Our focus remains on achieving our medium‑term targets, including the delivery of £50m of adjusted operating profit.”
