Liquid error: wrong number of arguments (2 for 1) Foxtons is now "outperformed" by rival agency, claims analyst | Marsh & Parsons Sales and Lettings Estate Agents London

Blogs, Press & Media

Foxtons is now "outperformed" by rival agency, claims analyst

Wed 27 Apr 2016

Marsh & Parsons is now "outperforming" Foxtons in terms of revenue growth in the London market, according to
a comparative analysis undertaken by City investment consultancy Jefferies. LSL Property Services, which
includes M&P, reported to the City yesterday and in line with many publicly-quoted agencies in recent days, it
recorded high sales transactions in the first quarter of 2016 as buyers were attempting to beat the stamp duty
surcharge deadline.LSLs group revenue was up 16.9 per cent year on year, with much of the growth as the
surcharge deadline neared, but Jefferies is particularly impressed with Marsh & Parsons."M&P outperforming
Foxtons. Revenue growth at M&P (36.3%) was ahead of the growth delivered by Foxtons, which was up 16.2%,
and ahead of the overall market, perhaps reflecting the earlier stage of M&P's (plenty of white space in zones 1
and 2) roll out compared to Foxtons (increasing focus on zones 3-5)" was how Jefferies analysts Anthony Codling
and Sam Cullen expressed it in a note to investors.Jefferies says that LSL, the second largest estate agency in
the UK, "has the ambition to grow operating profit per branch from 46,000 to between 80,000 and 100,000
[and] to take its London-based Marsh & Parsons business from 25 to 35 branches and to continue to grow its
lettings division via acquisition."However, the analysts warn - in line with agents earlier this week - that the
second quarter of the residential sales year may be tough because of EU Referendum uncertainty.

Contact our office

Close

Contact our Lettings team

Close

Contact our Selling team

Close

Contact our About us team

Close

Contact our Corporate Services team

Close

Contact our International team

Close

Contact our Land and New Homes team

Close

Contact our Professional Valuations team

Close

Contact our Professional Services team

Close

Contact our Property Management team

Close

Contact our Riverside Properties team

Close

Contact our Career team

Close

Contact our office

Close

Request a viewing

Close

 

Close

Share this with a friend

Close