Property group expects to weather downturn in instructions as sales pipeline grows

Jan 25, 2018

The wider market is expected to contract by 10% or more and Connells, headquartered in Leighton Buzzard, is pleased that its sales figures are down by only 3%.

However, its pipeline of sales at the start of 2018 is marginally up on the previous year.

Connells Group estate agency chief executive David Plumtree pictured said: “Although official figures for the wider market are not yet available for 2017, the general consensus is that total transaction levels across the UK will fall by at least 10%.

“So, set against this backdrop, it is pleasing that our sales for the year are only down by 3% and clearly the increase in our share of the new instruction market has enabled us to fare better than the market as a whole in respect of our sales results.”

The group’s focus has been on winning new instructions and, despite a subdued marketplace in the final quarter of 2017, Connells has had an encouraging start to the year.

The number of applicants registering an interest in moving home is up and the sales pipeline marginally up on 2017, Mr Plumtree said.

“We are delighted to be entering 2018 with a pipeline that is up compared to last year, and we are confident that, through our breadth of experience, we will continue to build on the success of 2017 and further increase our market share in 2018.” 

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