Two prominant agencies in their respective patches have announced expansions.
CKD Galbraith, which already has 14 offices across Scotland, is this week opening a new branch in Aberdeen, which is seen as the most lucrative of all Scottish urban markets after price rises as recent EAT stories have shown (link).
Prices in the city have risen 5.7 per cent in the past year while prices across all of Aberdeenshire are up 7.3 per cent according to the Registers of Scotland. GKD Galbraith says sales in 2013 were up 34 per cent over the previous year, while prices achieved were within 0.5 per cent of asking.
Meanwhile Foxtons has named the five locations where it is opening new offices by the end of May.
They are Greenwich, Beckenham, Earls Court, Harrow and Stoke Newington, taking the agency's tally in the UK capital to 49, with 18 of them opening in the past four years alone.
Last week Foxtons announced a special dividend alongside its first annual results as a public company, agreeing to pay a total of £15.4m to shareholders. Its profits before tax jumped 57 per cent to £39m; its revenue rose 16 per cent to £139m in 2013. Sales volumes were up 23 per cent and lettings rose 6.7 per cent.
Comments
factor in the increase in branches and Foxtons revenue growth doesnt look half as impressive - like for like comparison would be a lot more telling - no doubt thats why it wasnt used. Remove new office contribution and I predict that you'll see a decline in revenues moving forward.