Foxtons has had its best six months since 2016, despite falling London rents.
Half-year revenue was up 66% on 2020 to £66.9m, with profits hitting £5.2m – up from last year’s £2.4m loss.
The London-based agent said that growth in market share had been further strengthened by the acquisition of rival Douglas & Gordon.
Sales revenue was up by a healthy 86% after two years of declines, rising to £28.6m from £11.1m in H1 2020 and £15.4m in 2019.
Lettings were up 8% on 2019, contributing £33.1m in revenue, although rents had fallen in London by 9%.
Mortgage broking revenue increased by 31% to £5.2m.
Chief executive Nic Budden said the growth had allowed the agent to reinstate its dividend and extend its share buyback programme by £3m.
He added: “Foxtons has huge potential and today’s results demonstrate we are building a highly profitable business.”
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