News & Legal Updates
Sign up to news & legal updates
I was interested to read the statement from Nic Budden, the Chief Executive of Foxtons. Foxtons have just reported that its revenue for the final quarter of 2016 was down by a quarter compared to the same period in 2015 and its total revenue for 2016 is 11% less than the year before. Whilst it has to be remembered that Foxtons are a London centric Estate Agent this is perhaps an indicator of future market conditions. Nic’s comments advised “looking ahead we expect trading conditions to remain challenging in 2017 and it is likely that 2017 volumes (for sales) will be below those in 2016.”
Whilst I don’t think the Scottish market is as vulnerable to brexit as the London market it will be very interesting to see activity levels for this year.
Partner – Head of Property
The opinions expressed in this site are of the author(s) only and do not necessarily represent the opinions of Blackadders LLP.
Blackadders takes all reasonable steps to ensure that the content of this site is accurate and up to date. The site is not, however, intended as a substitute for seeking legal or other professional advice but rather as an informative guide to the services provided by Blackadders and topical legal developments. Site visitors should always seek advice tailored to their specific situation. Consequently, Blackadders accepts no responsibility for any loss or damage suffered by anyone acting or failing to act on the basis of information contained on this site. Downloading of material contained on this site is at the user’s own risk and all necessary virus checks must first be carried out by the user. Blackadders is not responsible for the material found on any web sites linked to this one and links to this site may only be made with Blackadders prior consent.
Blackadders owns the copyright in this blog and all material contained on it. The material on this site may be downloaded for personal use only and must not be altered. Otherwise, Blackadders’ written consent is required before any material on this site is reproduced, copied or transmitted in any way.
Information passed to us via this site is kept confidential and will not be disclosed to third parties except if authorised by you or required by law.
© Blackadders LLP 2011
Members of the Law Society of Scotland. Authorised to conduct Investment Business under the Financial Services & Markets Act 2000 by the Financial Services Authority.
Blackadders Solicitors is a trading name of Blackadders LLP, a limited liability partnership, registered in Scotland No SO301600 whose registered office is 30 & 34 Reform Street, Dundee, DD1 1RJ. Reference to a ‘partner’ is to a member of Blackadders LLP.Back to News & Legal Updates