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Nice, I mentioned a few weeks back that we will see sales as well as financials from Alexander Hall reach a record high for Foxtons.
April trading statement due shortly but as we've witnessed over the last 18 months expect management to play down the performance of the company for yet the umpteenth time.
This week saw the biggest jump in sales (plus 80) since the stamp duty holiday bonanza in 2021
Looks like sales for Q1 are approx 40% up on 2023
Excellent summary of the fortunes of property companies in 2023 on the Property Industry eye website this morning.
Looks like debt will be very much the downfall of many in an industry that's rapidly losing the weak competitors.
Can't download the article on this laptop but well worth a read.
SP taking a bit of a slap since results any thoughts out there?
Sales moving along quite steadily (as you would expect in March) so no disappointments there .
Islington always a good marker with a mix of properties and prices , The last few weeks have seen a number of sales and plenty going under offer which augurs well .
For fairness and disclosure I hold a nice position in my pension fund. Long term for me and can ride and add on all the dips along the way until my retirement.
Easiest hold ever .
Plenty of opportunity to renter here I should think as its going to be bouncing along but I wouldn't leave it too long
Was happy to buy back in today at sub 55p
I was hit at my stop loss level at 56.14 ( entry point was 35p) . So closed a large part of my position here.
I do like the stock and will continue to follow and see if this reversal will allow me a new entry. Maybe yes maybe not But don't want to alienate anyone Long so I hope it keeps rising and you all bag loads of money.
I only hold a small residual amount now .
Rates on the 5 year now below 4% for the past 4 days . Will be keen to see this consolidate to see decreasing mortgage rates . That and the capital gains tax decrease is good news for London real estate .
MM's seem determined to keep this below 60p. It keeps getting close and they let algos walk it back down. I wonder why!
Mr Gittins will be on Sky Business shortly.
Prob includes acquisition numbers .All a bit cloak and dagger to me.Al;l very mice buying 300 new minis but 300 x 30k a go is a lot of dosh.
Seems a bit top line vanity but maybe medium term will come good.But disappointing when the detail is given IMO and the market agrees by looks of it
Mr Markets says meh...
Pretty much word for word as back in January, not sure why the company has trading statements between all the interims and finals (there's another next month !) but tomorrow's budget will bring much more anticipated good news on the housing front.
No dramas here and looking even better in 2024 for Foxtons !
And within 'Hub & Spoke', the development of an out-of-London property management centre of excellence. Worcester?
When's mid-term? Easter? 2030?
Mr Rich needs to specify when exactly mid term is given they have now been talking about it for 2 years,
No surprises but interesting to have it confirmed that sales have sstarted picking up again which should be received positively
31% YOY increase in the value of the under offer pipeline at the end of February
I think we’ll see 60 plus tomorrow. There’s scope for a positive surprise on dividend, share buy backs, and outlook for 2024.
GLA
60p plus close?
Talk about timing, here's an article just published on-line this afternoon with regards to Foxtons and its BTR division :-
https://thenegotiator.co.uk/build-to-rent-growing-23-times-faster-than-prs/
Connells Group are in trouble as a lot of other estate agency brands whom failed to foresee what's happening in the sector and where renting will become the norm for many as we move forward with interest rates settling down to around 4-5% for the next few years or so.
I posted a list of estate/letting agencies that are in liquidation since the last quarter and that figure is now around 120 businesses, again nothing of interest to Mr Gittins & Co. to wet their appetites currently.
Dwindling competition for Foxtons and with only say three or four 'majors' to be left in UK Estate agent markets once all this plays out and with UK regulation hammering down the final nail to all the rogue landlords and agents out there I am expecting Foxtons to increase their UK market share no end.
Lets see how those market bandits play the stock in the next few days, its going to very interesting indeed !!
Connells Group in all sort's of trouble-lost chairman and chief exec bailed/pushed and profits down to 13 mill from over 111 mill just 2 years ago-67 mill last year.No one running ship (interim FD) and current CEO not capable-gave jobs to the boys from sequence and lost some high quality original Connells players .Good news for Foxtons as Barnard Marcus have staff leaving in droves
The algobots are going crazy buying this morning