Foxtons reports revenue growth as lettings offsets weaker sales market
Foxtons reported 5% revenue growth to £172.5m in 2025 as lettings expansion and acquisitions helped offset a challenging sales market.
Foxtons has reported a resilient financial performance for 2025, with revenue rising 5% to £172.5m as growth in its lettings division helped offset a challenging operating environment in the sales market.
Adjusted operating profit remained flat year-on-year, as revenue growth was offset by higher costs, including the impact of increases to National Insurance and the National Living Wage.
Lettings revenue rose 5%, supported by acquisitions and continued expansion in higher-margin property management services.
The group’s tenancy portfolio now exceeds 32,000 properties, representing growth of more than 50% over the past five years. Foxtons also reported 8% organic market share growth during the year.
Sales revenue increased 6%, driven largely by acquisitions in commuter markets, although activity in the second half of the year was affected by delays surrounding the Autumn Budget.
Guy Gittins, chief executive officer at Foxtons, said: “We were pleased to deliver 5% revenue growth in the year, as our continued focus on growing non cyclical and recurring Lettings revenues enabled us to maintain adjusted operating profit despite a volatile sales market.”
Gittins added: “We are making strong progress with our buy, build and bolt-on strategy. Acquisitions in Milton Keynes and Birmingham have extended our footprint into high-growth markets outside London and reflect our focus on entering new markets by acquiring leading agents that act as platforms for further organic and acquisitive growth.
“Our acquisition strategy is driven by the highly fragmented nature of the UK estate agency market, which creates attractive consolidation opportunities where our technology, brand and operating model can add real value.
“We have a strong pipeline of opportunities and are well positioned to build on our recent acquisitions.”
He continued: “Operationally we are not standing still, with AI-led improvements to our operating platform and targeted marketing initiatives helping us deliver best in class service for our customers.
“Estate agency is a people driven business and putting customers and colleagues at the front and centre remains a key priority, which is why we launched our ‘Getting It Done. Together’ framework as we continue our work to foster a respectful, rewarding and inspiring workplace.”
Gittins said the business had “strong foundations, a clear growth strategy and a highly scalable platform”, adding that the group is targeting further growth in 2026 and beyond.
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