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London's real estate firm Foxtons has reported its third successive quarter of growth, with an 8% rise in revenue over the past three months. The company's earnings climbed to £47.4 million for the quarter ending on 30 September, culminating in a nine-month revenue totaling £125.9 million, which is a 10% increase from the equivalent period in 2023.
While lettings income remained stable, sales revenue saw a spike, surging by more than one-third to £13.5 million, the highest for a quarter since 2015, as reported by City AM.
The surge was fuelled by a higher volume of property transactions. Transaction volumes at Foxtons were up by 34% in comparison to last year, outperforming the broader market which experienced a 13% growth compared to the historic lows of 2023.
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