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Belvoir Lettings PLC trading strongly as renting becomes lifestyle choice

Belvoir Lettings PLC (LON:BVR) chief executive Dorian Gonsalves told Proactive that it has started the 2019 financial year “incredibly well" in what remains a flat market.

Franchise fee revenue is up 6.3% while sales commissions have risen by 10.3%.

London and the South East might be suffering but Belvoir does not operate much there while the regions are thriving, he says, with prices and transaction volumes rising.

Some thirteen million people rent in the UK and increasingly it is becoming a lifestyle choice says Gonsalves, which benefits professionally run networks such as Belvoir.

He is also sanguine about the introduction of the tenant fee ban in June.

“There is very strong tenant demand and this will feed through into higher rents over the next 6-12 months.”

Quick facts: Belvoir Group PLC

Price: 148 GBX

Market: AIM
Market Cap: £51.95 m

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on 12/12/19

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