The UK’s largest estate agency chain, Countrywide, has had a storming start to the year.

For the first three months to the end of March, it recorded total revenues of £157.1m, up 35% on the same period in 2013.

Home sales numbered 14,878, a leap of 24%, with a further 1,396 ‘premier’ and London sales, a figure which was up 29%.

The number of residential lettings properties under management rose 28% to 66,839, while the number of mortgages Countrywide’s financial services arranged was up 33% to 15,572.

Countrywide’s interim management statement also highlighted its growth. So far this year, it has bought Cambridge agency Tucker Gardner and north London agent Preston Bennett, while spending £13m on buying nine letting agents.

In addition, it has opened five new branches.

According to Countrywide, the market outlook is “reasonably robust, notwithstanding a few challenges”. It cites the Mortgage Market Review and says this will be disruptive in the short term and impact on market growth.

The group said that it expects to deliver profits this year towards the top end of expectations.

Broker Panmure Gordon said Countrywide’s shares look attractive at current levels and maintained a ‘buy’ rating and 700p target on the stock. That price was almost hit a couple of months ago, but the shares ended yesterday just below the 600p mark.

“If the first-quarter momentum is sustained or accelerated, there is scope for earnings upgrades. The economy is getting stronger and real wages are picking up, which is very supportive,” the broker said.