Countrywide brand Hamptons International has announced record results in its lettings division – despite the tenant fees ban and its decision not to pass costs to landlords.
It said that it enjoyed its best ever quarter three, bolstered by a new all-time record in August.
Reporting on nine consecutive months of growth, revenues were up almost 3% year on year.
There was a 1.5% increase in total tenancies, with a 5.7% rise in renewals.
Hamptons also said its build-to-rent team had done well, with a pipeline of London-based build-to-rent schemes being let through its branch network.
Catherine Westerling, head of lettings, said: “Our results so far this year pay fitting tribute to the incredible hard work our teams right across Hamptons’ business have invested this year.
“We have seen growth in our portfolio of fully managed properties this year, increases to our regional and total market share and an uplift in rents where demand continues to substantially outstrip supply.
“Our staff have diligently and informatively supported clients through the immediate aftermath of the Tenant Fees Act, and have been rewarded by the number of new customers who have been attracted to Hamptons in light of our decision not to increase commission fees to landlords.
“Our year-to-date results demonstrate Hamptons’ commitment to growing a strong and progressive lettings business ethically and sustainably, regardless of market conditions, and we are excited to be heading towards a tenth month of year-on-year growth this month, October.”