Knight Frank has launched a redundancy consultation affecting part of its UK workforce, despite reporting an increase in revenues over the past year.

The agency confirmed to EYE that a number of its UK employees are impacted by the consultation, although it has not disclosed how many roles are under review or which parts of the business are affected.

The move comes after Knight Frank reported UK revenue of £405.1m for the year to March 2025, up 6.3% on the previous year. However, turnover remains below the levels achieved during the post-pandemic market surge, when UK revenue reached £418.5m in FY2022 and £409.5m in FY2023.

The consultation reflects the continued pressure facing property businesses as they adapt to a market characterised by lower transaction volumes, economic uncertainty and changing client requirements. While activity has shown signs of improvement in recent months, many firms remain focused on controlling costs and protecting margins.

Knight Frank has not commented on the reasons behind the consultation or provided details of the specific teams involved.

The development follows a period of mixed trading conditions across the residential and commercial property markets, with firms balancing investment in growth areas against the need to maintain profitability in a more challenging operating environment.

A spokesperson for Knight Frank told EYE: “We can confirm we have started a redundancy consultation process with less than 3% of our UK workforce. As this is ongoing it would be inappropriate to comment further.”

Knight Frank confirms restructure amid redundancy speculation