An agency says it now sells more prime London properties than any of its rivals.
Chestertons makes the claim based on figures provided by data company LonRes. Chestertons says it increased market share selling 11.8 per cent of all properties sold in prime London in 2020, compared to 10.6 per cent in 2019.
“Figures show that in the space of four years since 2017, it has also increased its market share in the ultra-competitive ‘Prime Central London’ region from 6.6 to 8.0 per cent” the agency claims.
Industry figures over market share and the apparent pecking order of agents have been muddied by different definitions of exactly what constitutes ‘Prime Central London.’
LonRes data sets out PCL as properties within the postcodes SW1X, SW1W, SW3, SW10, SW7, W1K, W8, W1J and SW1A.
A statement from Chestertons - which says it’s delivered four consecutive years of “organic growth” - says it was well prepared for the first lockdown almost a year ago and quickly pivoted services towards virtual tours, remote valuations and staff working from home.
The company says it was “therefore well prepared for the surge of buyers and tenants that were clamouring to move once restrictions were lifted, and increased revenue from its lettings division by eight per cent and from its sales division by seven per cent."
Agency chief executive Guy Gittins says: “To have successfully navigated our way through one of the most challenging years in living memory and deliver a fourth consecutive year of organic revenue growth is an achievement of which we are incredibly proud and testament to the relentless hard work and dedication from every single person at Chestertons.
“The team’s determination and willingness to adapt, combined with Chestertons’ progressive culture, continues to drive the business forward and was recognised by … LonRes when they confirmed we had sold more properties in Prime London than any other agent in 2020”.