Foxtons Group - Robust Q4 and strength into 2022

Foxtons traded well in all divisions in Q4 and generated revenue for the year of c £133m. The company benefited not only from the implementation of its strategy, but also from a robust sales market, which saw a 22% increase in the number of properties under offer in Q4 compared to the long-run average. The letting market also improved, with rental rates recovering sharply and now c 3% ahead of pre-pandemic levels. Foxtons entered 2022 with a sales pipeline similar in size year-on-year.