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Foxtons Sales Fees Drop 13% Showing London Housing Rut
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Foxtons Sales Fees Drop 13% Showing London Housing Rut Foxtons Group Plc has seen revenue from advising on home sales plunge, the latest sign of the downturn gripping the London housing market. The estate agent reported sales revenues of £23.5 million ($31.4 million) in the first half, a 13% drop from a year earlier. The company is cutting costs in anticipation of what it sees as “one of the lowest years for London transaction volumes on record,” according to Chief Executive Officer Guy Gittins.
Foxtons Sales Fees Drop 13% Showing London Housing Rut
Foxtons Group Plc has seen revenue from advising on home sales plunge, the latest sign of the downturn gripping the London housing market.
The estate agent reported sales revenues of £23.5 million ($31.4 million) in the first half, a 13% drop from a year earlier. The company is cutting costs in anticipation of what it sees as “one of the lowest years for London transaction volumes on record,” according to Chief Executive Officer Guy Gittins.