Foxtons raises profit expectations as London rents surge
A leap in London rents has provided a boost for Foxtons, prompting the estate agency to raise its full-year profit expectations.
Rents have surged in the capital, as workers and overseas visitors return to London and landlords begin to pass on higher mortgage costs to tenants.
The London-focused agent posted £29.2mn in revenue from its lettings business in the three months to September 30, up 18 per cent on the same period last year.
This story originally appeared on: Financial Times - Author:George Hammond
