Foxtons Share Discussion Threads

[farrugia] 10/3/2021 07:38

2021 trading update and outlook

Following the recovery of profitability in the second half of 2020, Foxtons' financial performance has continued to improve into 2021. Group revenue for the first two months of 2021 is well ahead of 2020 (and 2019) and continued tight cost control has resulted in significant growth in Group operating profit over that period.

The sales commission pipeline started 2021 more than 30% higher than prior year and has led to much improved revenue growth in the first two months of the year. Despite the significant increase in units sold to date, the value of the pipeline has remained stable over this period at levels last seen in early 2017.

Stock levels in lettings are also well ahead of 2020 and, although a relative excess supply of rental properties in London has driven down average rents by 12% versus prior year, we have so far been able to fully mitigate the impact on average commissions through greater volumes as tenants look to take advantage of more attractive prices.

Mortgage broking has also started the year well with higher new purchase activity, driven by the stronger sales market.

[smicker] 10/3/2021 07:33

Its called the ongoing buyback in these results. 1.8m of 3m so far

[discodave45] 05/3/2021 21:36

The buyback programme was to end 2nd March or when the aggregate £3m had been bought, whichever came sooner.

[boozey] 05/3/2021 11:48

Buybacks seem to have stopped.

[farrugia] 05/3/2021 10:11

Prime outer London house prices boom as demand for extra space continues to rise

[topazfrenzy] 04/3/2021 06:26

Where is everyone lol

[topazfrenzy] 03/3/2021 12:54

Also guaranteed home loans with only 5% deposit up to 600K

[topazfrenzy] 03/3/2021 12:53

Stamp duty holiday extended

[farrugia] 02/3/2021 16:18

London rental enquiries boom after roadmap out of lockdown restrictions revealed

[ny boy] 02/3/2021 08:57

Yes it’s a good fit for long term holders, especially a boost to the lettings business, takes time for it to boost the underlying nos.

Happy with progress buying up smaller rivals on the cheap bides well going forward imo

[farrugia] 02/3/2021 08:18

the acquisition looks good why hasn't this spiked?

[ny boy] 01/3/2021 10:48

Investors buying ahead of the Budget on Wednesday, also FOXT share buy back programme continues until then

[ny boy] 25/2/2021 13:47

Buyers returning, you can’t keep a good share down for long imo

[onedb1] 25/2/2021 12:17

Am wondering if my view of targeting 95-105 will come true by summer . I live in London and feel that there is a massive pent up demand for just about anything . Many I can see are working indoors and dying to enjoy the city once again to travel to buy a new place to buy new clothes to have a pint with mates . If this Covid finally goes to hell then q3 and Q4 will boom in nearly everything

[onedb1] 25/2/2021 12:13

Mind you in parts of SW in London am pretty sure they are worth a lot . Probably more than a proper house with loads of space as one moves further north. The price differential London and parts of the Home Counties vs many parts of the UK is staggering.

[onedb1] 25/2/2021 12:11

I wasn't aware . Cheers

[topazfrenzy] 24/2/2021 21:11

Yes onedb1 ex-council homes feature a lot on Foxtons' books lol

[ny boy] 24/2/2021 17:40

I think it’s priced in Knowing

More share buying, finishes next week from memory, they have certainly hovered up some stock!

Patience required but has proved an attractive opportunity for dip buying dyor as usual

[knowing] 24/2/2021 09:16

Nobody mentioning the rumour of the extension of the stamp duty holiday then

[ny boy] 24/2/2021 09:07

Bargain hunters on these dips, onwards & upwards!

[onedb1] 23/2/2021 20:23

Council homes ? never knew that.

[topazfrenzy] 23/2/2021 16:47

The problem with Foxtons is that their commission is way too high, no-one will pay what they ask these days (including me)

they need to totally revise this approach and become more competitive to sellers especially

they also have too many council homes on their books!!!! FFS!

[yorked] 23/2/2021 14:12

Looks like most of us have made a few extra pence...... I sold 10k@70.952p on 9 Feb and bought back yesterday @59.856p, and hopefully there are something more rewarding to come.

BTW, OnTheMarket and Chestertons both gave positive trading update yesterday. OnTheMarket's revenues for the year to January 31 will be around £23 million, that is ahead of expectations and above the £18.8 million recorded in the prior 12 months. Chestertons increased revenue from its lettings division by 8% and from its sales division by 7%.

[topazfrenzy] 23/2/2021 13:07

This share is so difficult to pin down or to read, it's all over the shop several times per day

[onedb1] 23/2/2021 11:51

From my 38s last week I took some profits but bought back with those profits now at 62p . Core stays at 38 but now I have some 62s too . 8p ish profits reinvested. I think those long candlestick tails are today and yesterday tell me that there is rejection of lower prices or at least good demand. Quite happy with my view so lets see if I can add some extra punch to my core . Good luck