{"id":822,"date":"2015-08-23T00:00:00","date_gmt":"2015-08-23T00:00:00","guid":{"rendered":"https:\/\/www.thehouseshop.com\/property-blog\/estate-agency-makes-good-profits-in-declining-market\/"},"modified":"2018-02-20T02:39:23","modified_gmt":"2018-02-20T02:39:23","slug":"estate-agency-makes-good-profits-in-declining-market","status":"publish","type":"post","link":"https:\/\/www.thehouseshop.com\/property-blog\/estate-agency-makes-good-profits-in-declining-market\/","title":{"rendered":"Estate Agency Makes Good Profits in Declining Market"},"content":{"rendered":"\n<!-- SEO Ultimate Plus (https:\/\/seoultimateplus.com) - Code Inserter module -->\n<script async>(function(s,u,m,o,j,v){j=u.createElement(m);v=u.getElementsByTagName(m)[0];j.async=1;j.src=o;j.dataset.sumoSiteId='b68b392479b5981b8acf46565e9fe32a0734fc21a1f7c1e60121eaa6ca1a1c64';v.parentNode.insertBefore(j,v)})(window,document,'script','\/\/load.sumo.com\/');<\/script>\n<!-- \/SEO Ultimate Plus -->\n\n<div>\n<p><span style=\"font-family: Verdana; font-size: 10pt;\"><img loading=\"lazy\" src=\"\/uploads\/media\/winkworths estate agents.jpg\" alt=\"\" width=\"252\" height=\"69\" longdesc=\"Winkworth Estate Agents Making Good Profits\" align=\"right\" border=\"0\" \/>Good news for <a class=\"wl-entity-page-link\" title=\"Estate agent\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/estate-agent\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/estate_agent;http:\/\/rdf.freebase.com\/ns\/m.02dzpr;http:\/\/dbpedia.org\/resource\/Estate_agent\" >Estate agents<\/a> Winkworths who have unveiled a remarkable success <a class=\"wl-entity-page-link\" title=\"Storey\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/storey\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/storey;http:\/\/rdf.freebase.com\/ns\/m.02vk6kk;http:\/\/dbpedia.org\/resource\/Storey\" >story<\/a> for this year \u2013 increasing its sales volumes and revealing that it wants to go on a buying spree.<\/span><span style=\"font-family: Verdana; font-size: 10pt;\">The firm is on target to beat its full-year profit forecasts after growing revenue by 20% in the first nine months.<\/span><\/p>\n<p><span style=\"font-family: Verdana; font-size: 10pt;\">This is despite low transaction volumes, especially outside <a class=\"wl-entity-page-link\"  href=\"https:\/\/www.thehouseshop.com\/property-blog\/london\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/london;http:\/\/sws.geonames.org\/2643743\/;http:\/\/rdf.freebase.com\/ns\/m.04jpl;http:\/\/yago-knowledge.org\/resource\/London;http:\/\/dbpedia.org\/resource\/London\" >London<\/a>, and a drop in prices compared with the first half of the year. <\/span><\/p>\n<p><span style=\"font-family: Verdana; font-size: 10pt;\">Yet despite operating in a low-volume <a class=\"wl-entity-page-link\" title=\"Market (economics)\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/market-economics\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/market_economics;http:\/\/dbpedia.org\/resource\/Market_(economics)\" >market<\/a>,\u00a0<a href=\"http:\/\/www.winkworth.co.uk\/\">Winkworth<\/a> has gained significant market share, with existing franchisee offices reporting a 42% increase in the number of <a class=\"wl-entity-page-link\" title=\"Property\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/property\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/property;http:\/\/rdf.freebase.com\/ns\/m.05wrt;http:\/\/dbpedia.org\/resource\/Property\" >properties<\/a> sold. Six new franchisees also reported strong sales. The firm has also recently set up a country house department. <\/span><\/p>\n<p><span style=\"font-family: Verdana; font-size: 10pt;\">Applications from would-be franchisees have doubled over the last year, from 54 to 107.<\/span><\/p>\n<p><span style=\"font-family: Verdana; font-size: 10pt;\">The group now has 88 outlets in total, of which 58 are in London and 20 outside London. A further six branches are in\u00a0Portugal and six in France.<\/span><\/p>\n<p><span style=\"font-family: Verdana; font-size: 10pt;\">In the UK, a further two offices are due to open by the end of this year, and a spokeswoman said that the target for next year is to open a further ten.<\/span><\/p>\n<p><span style=\"font-family: Verdana; font-size: 10pt;\">In a trading statement covering July to September 2010, the group said it is also looking to buy businesses: \u201cOur balance sheet continues to strengthen and we are further exploring opportunities to acquire small to mid-sized chains of franchised offices to incorporate into the Winkworth brand.\u201d<\/span><\/p>\n<p><span style=\"font-family: Verdana; font-size: 10pt;\">The firm, which was founded by Simon Agace and is now run by his son Dominic, floated on AIM last November. The move raised \u00a31.1m and valued the company at just over \u00a39m.<\/span><\/p>\n<p><span style=\"font-family: Verdana; font-size: 10pt;\">However, the firm has warned that low transactions will continue next year, with the market to be determined by interest rates, financing availability for first-time buyers and the impact of austerity measures, especially outside London. <\/span><\/p>\n<p><span style=\"font-family: Verdana; font-size: 10pt;\">The firm\u2019s statement says: \u201cWe expect to see prices continuing to move upwards in prime markets, perhaps by a further 5%, underpinned by low <\/span><span style=\"font-family: Verdana; font-size: 10pt;\">interest rates<\/span><span style=\"font-family: Verdana; font-size: 10pt;\"> and a discounted currency. Less prime markets are expected to see a consolidation in pricing levels after having retreated by 5-10% in the second half of 2010.<\/span><\/p>\n<p><span style=\"font-family: Verdana; font-size: 10pt;\">\u201cIn the private <a class=\"wl-entity-page-link\" title=\"Renting\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/renting\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/renting;http:\/\/rdf.freebase.com\/ns\/m.01y857;http:\/\/dbpedia.org\/resource\/Renting\" >rental<\/a> sector, we envisage an ongoing shortage of supply, created by a lack of investment over the last three years and by sales of <a class=\"wl-entity-page-link\" title=\"Buy to let\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/buy-to-let\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/buy_to_let;http:\/\/rdf.freebase.com\/ns\/m.083ycg;http:\/\/dbpedia.org\/resource\/Buy_to_let\" >buy-to-let<\/a> properties by <a class=\"wl-entity-page-link\" title=\"Landlord\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/landlord\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/landlord;http:\/\/rdf.freebase.com\/ns\/m.02mx_6;http:\/\/dbpedia.org\/resource\/Landlord\" >landlords<\/a> looking to de-leverage their portfolios. This should ensure ongoing upward pressure on rents and we anticipate that, on average, these may increase by 5% in 2011.\u201d<\/span><\/p>\n<p><span style=\"font-family: Verdana; font-size: 10pt;\">It adds: \u201cWe remain confident of our organic growth and, with a robust business model bolstered by the impact of new office openings, expect to continue to grow our market share.\u201d <\/span><\/p>\n<p><span style=\"font-family: Verdana; font-size: 8pt;\">source: <\/span><a href=\"http:\/\/www.estateagenttoday.co.uk\/\"><span style=\"font-family: Verdana; font-size: 8pt;\">Estate Agent Today<\/span><\/a><\/p>\n<\/div>\n<div><span style=\"font-family: Verdana; font-size: 10pt;\">See The House Shop\u00a0selection of <a href=\"https:\/\/www.thehouseshop.com\/property-for-sale?autocomplete-selection=&amp;search=London&amp;price-min=&amp;price-max=&amp;bedrooms=&amp;type-of-property=&amp;sort-by=most-recent&amp;items-per-page=20\">houses for sale in London<\/a><\/span><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Good news for Estate agents Winkworths who have unveiled a remarkable success story for this year \u2013 increasing its sales volumes and revealing that it wants to go on a buying spree.The firm is on target to beat its full-year<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/estate-agency-makes-good-profits-in-declining-market\/\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"wl_entities_gutenberg":"","_lmt_disableupdate":"","_lmt_disable":"","spay_email":""},"categories":[16],"tags":[],"wl_entity_type":[602],"modified_by":null,"_wl_alt_label":[],"jetpack_featured_media_url":"","wl:entity_url":"http:\/\/data.wordlift.io\/wl0502\/post\/estate_agency_makes_good_profits_in_declining_market","_links":{"self":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/822"}],"collection":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/comments?post=822"}],"version-history":[{"count":7,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/822\/revisions"}],"predecessor-version":[{"id":15162,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/822\/revisions\/15162"}],"wp:attachment":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/media?parent=822"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/categories?post=822"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/tags?post=822"},{"taxonomy":"wl_entity_type","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/wl_entity_type?post=822"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}