Thursday 8 April 2021 7:36 am

Winkworth confident despite profit hit as London market ‘swings back to sales’

Winkworth today said the housing market has swung back towards sales as buyers seek extra room for workspace while maintaining access to central London.

The estate agent, presenting its full year trading update, reported a six per cent fall in pre-tax profit last year to £1.53m.

Revenues dipped slightly to £6.41m, while the firm declared dividends of 6.68p per share.

While revenues met forecasts from a January market update, Winkworth’s pre-tax profit fell less sharply than expected.

Dominic Agace, CEO of Winkworth, said the business came through extreme conditions in 2020 to emerge from lockdown and improve its market share.

“While challenges remain, we expect to see an increase in activity in 2021 and we are well positioned to further grow our network and respond to the evolving needs of our customers.”

Agace said that Winkworth had seen less interest in letting in recent months, with lower demand in central London. However, as families re-plan their lives, the market has swung back towards sales.

“This has been driven by buyers seeking extra room for workspace and gardens, while still maintaining access to central London. We expect this trend to continue.”

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