Foxtons has grown its lettings portfolio to more than 32,000 tenancies – an increase of over 50 percent since 2021 – as the London-focused agent positions itself to benefit from the Renters’ Rights Act. The group reported 5 percent revenue growth to £172.5m in 2025, driven primarily by its lettings business.
Lettings drives growth as sales market struggles
Foxtons’ lettings revenue rose 5 percent to £111m in 2025, supported by acquisitions and growth in higher-margin property management services. The proportion of the portfolio under full management increased from 32 percent in 2021 to 43 percent by the end of 2025, providing more stable recurring income.
The group achieved 8 percent organic market share growth in lettings compared to the previous year, strengthening its position as both London’s largest lettings agent brand and the UK’s biggest lettings agent overall. Sales revenue increased 6 percent, largely due to acquisitions in commuter markets, though the London sales market remained challenging.
Following the end of the reporting period, Foxtons completed two platform acquisitions in January 2026 in Milton Keynes and Birmingham, expanding into new growth markets where it plans to pursue further acquisitions alongside organic growth.
RRA seen as growth opportunity
The company said the Renters’ Rights Act, effective from 1 May 2026, is expected to create growth opportunities by driving a flight to quality agents, increasing adoption of high-margin ancillary services, strengthening the inflation linkage of revenues through annual rent reviews, and accelerating sector consolidation.
Guy Gittins, chief executive officer of Foxtons, said: “We are making strong progress with our buy, build and bolt-on strategy. Acquisitions in Milton Keynes and Birmingham have extended our footprint into high-growth markets outside London and reflect our focus on entering new markets by acquiring leading agents that act as platforms for further organic and acquisitive growth.”
Gittins added: “Our acquisition strategy is driven by the highly fragmented nature of the UK estate agency market, which creates attractive consolidation opportunities where our technology, brand and operating model can add real value.”
This follows Landlord Knowledge’s coverage of southern rental market softening, with rents falling as letting times lengthen – conditions that may favour established agents with strong brands and the resources to wait for the right tenant.
What this means for landlords
- If you use a letting agent: Larger agents are investing heavily in technology and compliance – ensure your agent is similarly prepared for RRA changes.
- Watch for: Consolidation in the lettings sector may reduce choice, particularly in London and commuter markets.
- If you self-manage: Professional agents see RRA as a competitive advantage – consider whether self-management remains cost-effective given compliance demands.
- Bottom line: The shift toward fully managed tenancies signals landlords increasingly value hands-off letting arrangements.
Editor’s view
Foxtons’ bullish outlook on the Renters’ Rights Act is telling. While many landlords view the legislation with concern, larger letting agents see opportunity in regulatory complexity. The flight to quality they predict may be accurate – but it also means smaller landlords face a choice between paying more for professional management or navigating an increasingly demanding compliance landscape alone.
Author: Editorial Team – UK landlord & buy-to-let news, policy, and finance
Published: 6 March 2026
Sources: Foxtons Group plc
Related reading: Rent protection insurance demand jumps 41% as landlords brace for RRA
