Connells Group, the UK’s largest estate agency network, handled 86,000 property exchanges in 2025 – approximately one in ten of all home sales nationally – as its lettings portfolio grew to more than 128,000 managed properties.
The group reported revenue rising 9 percent to £1.16 billion, with pre-tax profit up 19 percent to £73.1 million. The results signal a housing market that weathered uncertainty better than many expected.
Lettings portfolio expands
The growth in managed properties reflects sustained demand for professional letting services as professional landlords consolidate their portfolios ahead of regulatory changes. Connells’ lettings operation now spans properties worth several billion pounds across its regional office network.
Mortgage activity proved strong throughout the year, with arranged mortgages rising 9 percent. The group generated £33.3 billion in mortgage lending, suggesting continued appetite for property finance despite elevated rates for much of 2025.
Survey and valuation volumes climbed 7 percent, indicating healthy transaction pipelines feeding through from offer to completion.
Market weathered budget uncertainty
Helen Charlesworth, chief executive of Connells Group, said the year “began strongly, supported by increased activity ahead of the March stamp duty deadline, which accelerated transactions in the first quarter.”
“While momentum eased in the second half amid uncertainty surrounding potential property tax changes, clarity following the government’s November Budget helped restore confidence towards the year end,” she said.
The group completed 13 acquisitions across residential and commercial markets during 2025, expanding its regional footprint as smaller agencies faced margin pressure from cooling rental growth in some areas.
2026 outlook
Charlesworth pointed to “reasons to be cautiously optimistic” for the year ahead. “Mortgage rates are easing, economic indicators are moving in the right direction, and we begin the year with a healthy sales pipeline,” she said.
The company has invested in technology and digital services aimed at streamlining transactions – developments that landlords using managed letting services may benefit from through faster tenant onboarding and reduced void periods.
For landlords, the results offer a market health check. A major agency reporting strong lettings growth and profit increases suggests the professional end of the sector remains viable, even as regulatory headwinds approach. The Connells network spans multiple brands including Countrywide, Sequence and Hamptons.
Editor’s view
When the UK’s largest agency reports profit growth of 19 percent and an expanding lettings book, it suggests the exodus narrative has limits. Professional landlords are staying and consolidating. The question for 2026 is whether that resilience survives the Renters’ Rights Act implementation in May.
Author: Editorial Team – UK landlord & buy-to-let news, policy, and finance
Published: 19 February 2026
Sources: Connells Group
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