electrogear Posted January 18, 2017 Share Posted January 18, 2017 Sorry, didn't mean to falsely quote you - firefox being daft again! Quote Link to comment Share on other sites More sharing options...
Untoward Posted January 18, 2017 Share Posted January 18, 2017 Closed at 92.0 Really heartening to see that 100.0 resistance, being well and truly smashed. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted January 18, 2017 Share Posted January 18, 2017 1 hour ago, electrogear said: Sorry, didn't mean to falsely quote you - firefox being daft again! Wouldn't worry about it. Least of my worries Quote Link to comment Share on other sites More sharing options...
GreenDevil Posted January 18, 2017 Share Posted January 18, 2017 Ceiling is 100p. Floor is 0p. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted January 20, 2017 Share Posted January 20, 2017 There is a definite trend start to appear. I have no doubt this is the pre-cursor to a wider London buibble collapse. It will be spectacular when it goes. Quote Link to comment Share on other sites More sharing options...
Shy Ted Posted February 8, 2017 Share Posted February 8, 2017 RNS out, Hunter Hall investment management have sold 5m shares, reduced their holding by a quarter. Short positions at a three year high too... http://shorttracker.co.uk/company/GB00BCKFY513/all Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted February 8, 2017 Share Posted February 8, 2017 1 hour ago, Doctor SickoPants said: RNS out, Hunter Hall investment management have sold 5m shares, reduced their holding by a quarter. Short positions at a three year high too... http://shorttracker.co.uk/company/GB00BCKFY513/all Share price back up to near the 100 mark today Quote Link to comment Share on other sites More sharing options...
Tempus Posted March 5, 2017 Share Posted March 5, 2017 (edited) Figures coming this week. Profits have 'slumped', but sadly they are still making a profit. We want to see loses... "Sales handled by Foxtons fell by a quarter in 2016 because of higher stamp duty on top homes and a Brexit slowdown, the estate agent will report this week. The London-based agent is set to reveal that profits slumped to £25 million from £43 million last year. Its sales have dried up since the first quarter of last year when a huge number of London properties changed hands in the capital ahead of the stamp duty overhaul." http://www.thisismoney.co.uk/money/article-4281832/Brexit-slump-hits-London-estate-agent.html Edited March 5, 2017 by Tempus Quote Link to comment Share on other sites More sharing options...
Patient London FTB Posted March 5, 2017 Share Posted March 5, 2017 4 hours ago, Tempus said: Figures coming this week. Profits have 'slumped', but sadly they are still making a profit. We want to see loses... "Sales handled by Foxtons fell by a quarter in 2016 because of higher stamp duty on top homes and a Brexit slowdown, the estate agent will report this week. The London-based agent is set to reveal that profits slumped to £25 million from £43 million last year. Its sales have dried up since the first quarter of last year when a huge number of London properties changed hands in the capital ahead of the stamp duty overhaul." http://www.thisismoney.co.uk/money/article-4281832/Brexit-slump-hits-London-estate-agent.html Last year won't have been that bad overall but Q1 2017 on Q1 2016 is going to be carnage for them. Quote Link to comment Share on other sites More sharing options...
AvoidDebt Posted March 6, 2017 Share Posted March 6, 2017 Looks like countrywide is fckd too. http://www.propertyindustryeye.com/foxtons-and-countrywide-poised-to-announce-big-falls-in-profit/ Comments worth a read too as usual, mostly just hysteria these days. smile please MARCH 6, 2017 AT 6:42 AM The worrying thing for CW is this is after they have sold a good amount of family silverware. I think the zoopla share sale alone was circa 20 million. Deuduct that from their “profit” and it is a very worrying picture. Quote Link to comment Share on other sites More sharing options...
dougless Posted March 6, 2017 Share Posted March 6, 2017 This is all good news. Foxtons down 1.7% this morning and its only 8:15. Quote Link to comment Share on other sites More sharing options...
adamLancs Posted March 6, 2017 Share Posted March 6, 2017 Probably doesn't help that PurpleBricks is having a good run. Out with the old and in with the new, and all that. It's that time of year too. Quote Link to comment Share on other sites More sharing options...
Sancho Panza Posted March 6, 2017 Share Posted March 6, 2017 5 hours ago, AvoidDebt said: Looks like countrywide is fckd too. http://www.propertyindustryeye.com/foxtons-and-countrywide-poised-to-announce-big-falls-in-profit/ Comments worth a read too as usual, mostly just hysteria these days. smile please MARCH 6, 2017 AT 6:42 AM The worrying thing for CW is this is after they have sold a good amount of family silverware. I think the zoopla share sale alone was circa 20 million. Deuduct that from their “profit” and it is a very worrying picture. I love that website. Quote Link to comment Share on other sites More sharing options...
spunko2010 Posted March 6, 2017 Share Posted March 6, 2017 I suspect they'll start closing branches as part of a "restructuring plan" shortly. Quote Link to comment Share on other sites More sharing options...
Sancho Panza Posted March 6, 2017 Share Posted March 6, 2017 51 minutes ago, spunko2010 said: I suspect they'll start closing branches as part of a "restructuring plan" shortly. I've seen branches of CW offering sales for £750 all in..........................won't be long methinks. Quote Link to comment Share on other sites More sharing options...
AvoidDebt Posted March 8, 2017 Share Posted March 8, 2017 The figures are out and the trajectory is fantastic. Treat yourself to a choc donut for breakfast.. Foxtons' figures released to the City this morning confirm a huge slump in sales in 2016 - and even lettings revenue dipped. Sales revenue was £55.5m, down 23 per cent, and according to the firm "driven by a marked step down in activity in the second half [of the year] following the EU referendum and stamp duty changes". Lettings revenue was £68.3m but even this was down over the year - it dipped one per cent, although Foxtons this morning said the rental sector "provides a consistent, recurring revenue stream." As a results, profits before tax dived - £18.8m in 2016 after £41m in 2015. There was some cheer with mortgage revenue reaching £8.9m, some seven per cent up on the previous year. The agency opened seven branches last year - and two in February 2017 - taking the network to 67. A statement to shareholders and the City from Foxtons chief executive Nic Budden says: “Last year’s London property market was severely impacted by an unprecedented sequence of events with changes to stamp duty and the EU referendum vote leading to a substantial reduction in property sales transactions, especially in Central London. "We were not immune to the decline in volumes, although our lettings business proved more resilient, whilst our mortgage broking business also performed well. We expect trading conditions to remain challenging throughout 2017. Should current sales activity continue through the remainder of this year, it is likely that 2017 sales volumes will be below last year." https://www.estateagenttoday.co.uk/breaking-news/2017/3/foxtons-profits-dive-thanks-to-brexit-and-stamp-duty Quote Link to comment Share on other sites More sharing options...
adamLancs Posted March 8, 2017 Share Posted March 8, 2017 To be honest there were so many factors going on last year; stamp duty and BTL crackdown, huge drop in the £, the february stock market crash, EU vote, Chinese capital controls as mentioned, the US elections, migrant problems. Very much a year of uncertainty in my book if there ever was one to compare (2008-2009 spring to mind). I still think HPI has some left to run, despite the obvious slowdown at the moment in central London. I think there were a lot of people on here calling it early last year and it hasn't happened that way. Instead the £ is trashed and people can't compete with foreign money bidding against them on British houses, something that will likely continue. Carney cares not. Quote Link to comment Share on other sites More sharing options...
mat109 Posted March 8, 2017 Share Posted March 8, 2017 8 minutes ago, fru-gal said: Profits should dip even further once the ban to letting agency fees comes into force. Foxtons charge ridiculous amounts to tenants. Sadly I've used them as a benchmark in London - they're not the worst. I've asked shady small estates agents why they charge more than Foxtons several times... The response never makes any sense Quote Link to comment Share on other sites More sharing options...
Eddie_George Posted March 8, 2017 Share Posted March 8, 2017 3 hours ago, fru-gal said: Profits should dip even further once the ban to letting agency fees comes into force. Foxtons charge ridiculous amounts to tenants. Talking of which... did Phil mention anything today about the ban? Quote Link to comment Share on other sites More sharing options...
Patient London FTB Posted March 8, 2017 Share Posted March 8, 2017 47 minutes ago, Eddie_George said: Talking of which... did Phil mention anything today about the ban? No, which is slightly worrying. There was only this general waffle about making markets work for consumers: As well as knowing the government is on their side, people want to know that they’re getting a good deal from private markets too. A well-functioning market economy is the best way to deliver prosperity and security to working families. But government recognises that sometimes markets, particularly in fast developing areas of the economy, can fail people. Sometimes, the market does not deliver the outcome the text books suggest it should. And when that happens, this government will not hesitate to intervene. We will shortly bring forward a green paper on protecting the interests of consumers. But ahead of the Green Paper, we will take the first steps to protect consumer from unexpected fees or unfair clauses, to simplify terms and conditions, and to give consumer bodies greater enforcement powers. Together, Mr Deputy Speaker, these measures will boost incomes, help family budgets stretch a little further, support parents back into work and tackle some of the frustrations that sometimes make it feel that the dice are loaded against ordinary working people going about their everyday lives. Source Quote Link to comment Share on other sites More sharing options...
Shy Ted Posted March 16, 2017 Share Posted March 16, 2017 BlackRock, where Osborne is now working, getting aggressively short on Foxtons: http://shorttracker.co.uk/company/GB00BCKFY513/all Coincidence? Quote Link to comment Share on other sites More sharing options...
Shy Ted Posted May 17, 2017 Share Posted May 17, 2017 Trading update today. For 'in line with expectations' read ' holy crap we've lost half our sales revenue'. Our first quarter revenues comprised property sales commissions of GBP11.1m (2016: GBP20.0m), lettings revenues of GBP15.5m (2016: GBP15.8m), and mortgage broking fees of GBP2.1m (2016: GBP2.6m). Quote Link to comment Share on other sites More sharing options...
AvoidDebt Posted May 17, 2017 Share Posted May 17, 2017 In a trading update on Tuesday, the agent said overall group revenues slipped 25 per cent from £38.4m to £28.7m in the first three months of the year. Revenues were £26.4m in the previous quarter. Overall property sales commissions dipped to £11.1m from £20m, while lettings revenues were down £300k to £15.5m. https://www.ft.com/content/189967fd-a4ec-3966-810f-b7fe725f0c9f Quote Link to comment Share on other sites More sharing options...
rantnrave Posted May 17, 2017 Share Posted May 17, 2017 2 minutes ago, AvoidDebt said: In a trading update on Tuesday, the agent said overall group revenues slipped 25 per cent from £38.4m to £28.7m in the first three months of the year. Revenues were £26.4m in the previous quarter. Overall property sales commissions dipped to £11.1m from £20m, while lettings revenues were down £300k to £15.5m. https://www.ft.com/content/189967fd-a4ec-3966-810f-b7fe725f0c9f Share price is remarkably resilient at around 100p though. Quote Link to comment Share on other sites More sharing options...
dougless Posted May 17, 2017 Share Posted May 17, 2017 53 minutes ago, rantnrave said: Share price is remarkably resilient at around 100p though. I watch them like a I might watch a Canary in a mine and i can't understand how it keeps hanging around the 100 mark. Quote Link to comment Share on other sites More sharing options...
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