Winkworth to expand in the commuter belt
WINKWORTH has revealed a strong increase in sales in the last half year as the UK property market soared.
The estate agent’s sales in the six months to 30 June were £2.49m, up 20.4 per cent on the same time last year. Profit before tax increased to £803,785, against £594,633 last year.
Chief executive Dominic Agace said: “While the London property market has certainly undergone a change since the extreme levels witnessed in the early part of the year, we expect prices to remain on a sustainable long-term uptrend, slowing from the 15 per cent annualised rate witnessed this year to around five per cent in 2015, subject to some extent to the outcome of the general election.”
He added that Winkworth planned to expand outside of London, where growth is expected. “We have witnessed recovery in the main markets in London and surrounding suburban areas and anticipate that the ripple effect will eventually create a full recovery in outer areas such as Winchester, Romsey, Bournemouth, Exeter, Newbury and Devizes.”