Agency giant announces huge jump in managed properties

The Property Franchise Group says that in the past year the number of managed properties it handles has risen from 58,000 to 74,000.

TPFG has six brands and the acquisition of its latest - Hunters, last summer - accounts for most of the managed properties spike.

In a trading statement to shareholders, revealing its year-end 2021 figures, the company says: “In the residential lettings market we saw less movement by tenants. However, following the tenant fee ban, the evictions ban coming to an end, the increase in house prices and other inflationary pressures, rents have risen. Typically, rent increases of six to eight per cent were seen during 2021, a trend that is continuing into the current financial year.”

The Property Franchise Group's brands are Martin & Co, EweMove, Hunters, CJ Hole, Ellis & Co, Parkers, Whitegates, Mullucks & Country Properties.

In terms of figures for the overall TPFG group, which during 2021 took over Hunters, there was a 119 per cent rise in revenue to £24.1m. Royalties from franchisees - identified as management service fees - grew 19 per cent in 2021 while network income rose 67 per cent. 

And Gareth Samples, Chief Executive Officer of The Property Franchise Group, says: “2021 has been a milestone year for The Property Franchise Group. Our determination to make the most of a buoyant sales market saw us achieve record levels of like-for-like revenue, Management Service Fees and profits.

"We also saw our strategic decisions deliver. The acquisition of Hunters, completed in March, significantly added to our shareholder value. Our focus on building EweMove resulted in record numbers of franchisees recruited. And last but not least, our decision to bolster our central executive team has provided immeasurable support to the franchisee network throughout the year, helping them to become more successful.

"Looking ahead, we see an exciting period of further development for all our franchisees in 2022. While we expect over the year we’ll see sales activity return close to 2019 levels, so far we have seen continued high levels of demand for both sales and lettings, well above pre-pandemic norms. Aside from market conditions, we have great confidence that the execution of our strategic initiatives, alongside the benefit of a full year’s contribution from our acquisitions, will underpin continued growth this year and beyond.”