Mark report: Foxtons Boost as buyers hurry to avoid the seal rights
The housing market has returned to life, because buyers are rushing for the first time to complete deals before an increase in the seal rights this spring.
And that spells good news for broker Foxtons.
The company said it started 2025 with more houses that are offered than with a New Year since 2016 – before the Brexit mood.
Foxtons noticed a strong question with first buyers before the stamp right goes up in April in what amounts to a new tax increase under work.
Currently, nobody pays stamp rights on the first £ 250,000 of a house, while the reimbursement for first buyers is £ 425,000.
But in last year’s budget, Chancellor Rachel Reeves said that Stamp Duty would start £ 125,000 from 1 April and reduced the threshold for first buyers to £ 300,000.
Stamp Duty Rush: Makelaar Foxtons said it started 2025 with more houses that are offered than with a New Year since 2016 – before the Brexit -Voting
“We enter 2025 with optimism,” said Foxtons Boss Guy Gittins. “We start the year with the highest opening under declaration pipeline since the Brexit mood in 2016.”
With the rental activities that also performed well, Foxtons said that the income last year increased by 11 percent to £ 163 million, while the profit was about a third higher at £ 19 million. Foxtons shares rose 1.5 percent or 1p to 67p.
Big Tech and the rise of Chinese AI -Disrupter Deepseek was the conversation of trade floors through the city and Wall Street yesterday.
And with Nvidia who reduced some of his losses from Monday, the FTSE 100 set up 0.35 percent or 30.16 points to 8533.87 and the FTSE 250 advanced 1.08 percent or 219.01 points, up to 20,588.51 .
Advertising Guru Sir Martin Sorrell had reason to cheer because shares in his company S4 Capital 7.6 % or 2.54 p jumped to 36.02p.
The rally came after the company said that income and profit for 2024 seem to be ‘slightly above’ the £ 746 million and £ 84 million expected by city analysts. Shares, however, continue to fall more than 90 percent since their peak in 2021.
Back in the top flight, Pest Control Group Rentokil Initial reported an increase of 3 percent in the income of the fourth quarter when the company was picked up in North America.
It also announced the departure of Brad Paulsen, his chief executive in the region, but investors took it in their passes and shares crawled 0.8 percent or 2.9 p, to 389.8p.
Bae Systems added 0.6 percent or 7.5 p to 1251p after it had won a £ 285 million contract from the Ministry of Defense to upgrade its Royal Navy Combat Systems.
Under the Mid-Caps Fizz AG Barr from the mid-caps, 622p or 39 p rose to 622p after it rose by 5 percent to £ 420 million for his financial year until last weekend.
Technology supplier Computacenter shot up 7.4 percent or 156p to 2268p after it said that the second half of last year was the ‘most profitable half year in its history’.
SSP, the owner of Baguette Chain Upper Crust, was also on the front foot, rose 4.4 percent or 7.5 p to 178.9p after it had reported an increase of 14 percent in the turnover of the first quarter.
But Technical Gigant Smiths Group decreased 2 percent or 38p to 1845P after the maker of the airport scanners was hit by a cyber attack that concerned ‘non -authorized access to its systems.
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