Lettings stay resilient as franchise giant weathers “uneven” market
Summary
Winkworth’s trading update indicates that revenue and pre-tax profit are expected to remain in line with market expectations despite an uneven market backdrop and wider political and economic uncertainty. The lettings business has remained resilient, with the company noting continued performance after the Renters Rights Act came into force on 1 May and ongoing network expansion through new office openings.
Why it matters
Residential surveyors with exposure to lettings, agency valuations or portfolio advice should note that agency trading remains broadly stable even amid regulatory change and weaker confidence. The update also signals that the Renters Rights Act is already influencing market conditions, which may affect landlord behaviour and local rental market dynamics.
Key points
- Winkworth expects full-year revenue and pre-tax profit to be in line with market expectations.
- The company describes current trading as uneven, citing political and economic uncertainty.
- Lettings performance has held up well following the Renters Rights Act taking effect on 1 May.
- The network expanded with four new office openings and one closure in the first half of the year.
- Underlying revenues are expected to be slightly ahead of the prior year, excluding a disposal effect.
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