Figures reveal UK's fastest growing lettings agency as 2024 starts

Foxtons claims it’s reached new heights under its latest management team.

The agency has been described as the is fastest growing UK lettings player as well as the fastest growing UK sales estate agent.

Industry consultancy TwentyCi has analysed the market for the first 11.5 months of 2023 before comparing this to the same period of 2022.

It found Foxtons enjoyed a.36 per cent increase in market share across the UK lettings sector in 2023 and across the UK sales market, Foxtons saw 28 per cent growth.

Both figures were well ahead of the next placed agency - Connells.

Chief executive Guy Gittins says: , Foxtons Chief Executive, says: “In 2023 we have driven an enormous amount of change throughout Foxtons, investing heavily in our people, technology and brand.

“The hard work and dedication of each and every person at Foxtons has meant we have not only reclaimed our position as London’s largest sales and lettings estate agency brand, we’re also very proud to be the fastest growing sales and lettings brand across the whole of the UK.

“We now enter 2024 with incredible momentum and determination to continue relentlessly delivering the right results for our clients and customers.”

However two shareholders who own a combined 10 per cent of the agency were recently said to be pushing for it to be sold.

Rhys Summerton of Milkwood Capital, which owns four per cent, told The Times: “If you look back, in 2015 Foxtons was a £1 billion company. But the public markets are no longer valuing the good work the management has done recently and the only way to extract fair value is for the board to carry out a sale process.”

And Canadian investor Converium Capital, which owns six per cent, wants a strategic review and suggests Foxtons is a “highly strategic” acquisition for others wanting a share of the lucrative London market.