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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
More excellent news with regards to UK house sales from Zoopla, keeps things ticking along nicely for Foxtons.
As I mentioned a few days back it will be the sales and financial areas of Foxtons (Alexander Hall) that will take centre stage for the company this year whilst rental income and services will continue to generate over £100m in revenue again for this financial year.
#Long & Strong
https://propertyindustryeye.com/property-industry-reacts-to-zoopla-house-price-index-4/
Yep, bang on there. Its where the main registered office of Ludlow Thompson is located according to Companies House latest :-
https://find-and-update.company-information.service.gov.uk/company/02826702
Thanks for that
Looks like Ludlow Thomson had an office there. My guess would be they are moving back office staff out of London. IIRC the Chiswick HQ lease is coming to an end soon. They'll ditch that cost soon and move those that don't need to be in London to a cheaper location and downsize the size of the HQ.
Ah yeah could be BTR. This was published earlier today https://www.lettingagenttoday.co.uk/breaking-news/2024/2/foxtons-says-build-to-rent-has-vast-growth-potential-as-tenants-age
Nice find, albeit a bit of a swerve ball that one ?
I wonder if it has anything to do with Berkeley Group new homes division ? We know that Foxtons are in partnership with them and maybe its their 'build to rent' homes division perhaps, that is if Berkeley has a new development there ?
Worth doing a bit of research tomorrow to see what I can find but very interesting nevertheless !!
Https://careers.foxtons.co.uk/vacancies/557/property-manager--worcester.html
A lettings role in Worcester!??
They tried.... which in a way is good for those buying the dip in the trend .
After Friday's big fall in the 2s and 5 year rates this is the time that real estate gets a boost . Come April I think we get the energy cap dropping by 15% which should lower inflation by quite a bit too. I reckon that somehow and miracously the government will get lucky as inflations drops and things improve fast
Interesting !!
Big week for Foxtons and the property market next week, time for a last bit of market game play ??
With a splash of Joop ,the neggies are pumped primed and loaded .The Minis are revved up
The high value postcodes Sloane Square.Knightsbridge etc are still treading water
Foxtons offices at Fulham and Earls Court have healthy inventories agan with pedestrian level of sales
The potential here for uplift as and when the market gets motoring is huge
Patience required.
To see the level of algo trading starting to nudge up. Institutional trading has been returning. Could be someone trying to pick up stock on the cheap post the results?
If the Government back 1% mortgages this will transform the london market in terms of sales.has to be agreat time to buy in beofre the 6th IMO
We’re halfway through Q1, and by my reckoning, Foxtons sales are more than 20% up on the same time last year.