London estate agent Foxtons PLC (LON:FOXT) posted higher half-year losses as the capital’s housing woes continued.
Weak prices and flat volumes combined to reduce sales revenues by 10% though letting fees held steady at £31.7mln even with the tenant fee ban coming into force at the start of June.
Group revenues were £51.1mln (£53.3mln) while losses dropped to £3.2mln (£2.5mln).
“Looking ahead, we expect conditions to remain challenging and have effectively positioned the business to reflect this,” said chief executive Nic Budden.
“In lettings, we expect our ongoing commitment to landlords in light of the tenant fee ban to improve further our proposition and we are confident this will continue to drive market share.”