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.”
Ray of Sunshine !!
CWD cleverly let this little PR snippet out maybe in effort to demonstrate that the “tunaround” policy is bearing fruit Perhaps they engaged the services of Headphones Quirk Properganda to serve this up
More of a movement by the tug than the battleship
Hamptons arguably one of their best brands and buys by Countrywide . I always had a view of Hamptons as a little bit like a reduced form of Savills,an international flavour but slightly less tweed and a bit rakish
However being married into the N London Greene & Co seems very much a clash of cultures
Bought in 2010 at a knockdown price reflecting the current market at the time the 80 branches had been sold to a Middle East buyer in 2006 for a frothy £104m’ . Nearly as much as CWD’s current debt today of £90m
I guess every little helps and maybe could show a change of sentiment on the share price however short lived !
She mentions Right To Buy and guess this is a huge area to get involved in as a letting agent if manging to get brought into schemes that Greystar ,Grainger London &Quadrant,Grosvenor , Quintain .Sigma ,Legal &General M&G (Prudential) and others have popping up all over London
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