Overview
- Third-quarter home-sales revenue fell 7% to £12.5 million, reflecting deals brought forward before April stamp duty changes and only limited interest-rate relief.
- Foxtons trimmed full-year operating profit guidance to £21.5 million–£23.2 million, below roughly £23.7 million expected by City analysts and close to last year’s £21.6 million.
- The company warned that fourth-quarter sales could come in below management expectations due to ongoing uncertainty around the delayed Autumn Budget.
- Lettings continued to provide support, with third-quarter revenue up 3% to £49 million and year-to-date revenue up 7% to £135.1 million.
- Media have reported unconfirmed Treasury options aimed at higher-value homes, reinforcing buyer caution, while separate data show £5 million-plus London sales fell by about a fifth year on year.