Foxtons reported a 3.1% on-year fall in total revenue in the first quarter, while sales commission was down 11.9% at £15.5m.
The estate agency’s chief executive officer said that while sales in London were flat, the long-term outlook for the market was sound.
Foxtons plans to continue its strategy of adding between five and 10 new branches a year. It has already opened five this year, and is planning another two before the end of the year.
