Rental and property agency Winkworth reported a significant increase in sales in the second half of last year.
Winkworth said in a stock market trading update that agreed sales for the second half of 2024 were up 27% year-on-year. This follows a 19% increase in the first half of this year, and will take the annual growth rate for all of 2024 to 23%. 
Adding that completed sales for the year increased by 19% compared to the previous year, the board added that the momentum will continue until 2025.
Mr Winkworth said this uptick in activity was driven by lower annual mortgage costs and real wage growth over the same period, adding to affordability pressures for homebuyers after a long period of uncertainty. He said that it helps reduce the
It added that with expectations for further rate cuts, buyers are hoping to close by April 2025, when the stamp duty discount ends, and that it expects activity to remain strong in 2025, particularly in the first quarter of this year.
But Mr Winkworth said a renewed focus on sales activity was reflected in the slowdown in rental activity. Overall, it said the number of rental applicants in 2024 was down 5% compared to 2023 figures, but full-year revenue is expected to increase by 5% to 6% due to higher rental prices.
Winkworth's full-year pre-tax profit is expected to be in line with current market expectations of £2.35m. The company plans to announce its final financial results for this fiscal year on April 17, 2025.
Dominique Agasse, CEO of Winkworth, said: “The positive trends in sales activity we saw in the second half of 2024 bode well for 2025, and as a balanced sales and rental business, we are well positioned to take advantage of the sales growth.” transaction.
“In 2024, we made significant investments to bring new talent to the business, acquire existing offices, and support the expansion of existing franchisees. These investments will continue in 2025 and 2026. We look forward to seeing this continue to bear fruit and further strengthen our position in the market.”
