The Property Franchise Group said the business’s start to 2021 has beaten not only last year, but also 2019, as the market recovers from the pandemic.
In a statement ahead of today’s annual general meeting, the company said revenue over the first five months of 2021 had been “significantly higher” than in previous years, almost doubling from a year ago as well as being notably higher than in the same period of 2019.
The group, which owns several estate agency brands that it franchises, described the sales market as “buoyant” and added that the average sales fee charged had grown by more 10% during the past year alongside rising house prices.
The company has struck deals in recent months including a strategic partnership over mortgage advice with LSL. “Whilst the residential housing market currently remains very busy, supported by the government’s stamp duty holiday and introduction of the 95% mortgage, the group is also delighted by the progress made with its strategic initiatives which are set to drive organic, like-for-like growth even when the external market begins to normalise,” the company said.
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