Foxtons Group plc provided earnings guidance for the fourth quarter, full year 2023 and first quarter of 2024. Fourth quarter, in Sales, revenue is expected to be lower than the prior year comparative, market share gains mean the adverse variance versus fourth quarter of 2022 should reduce compared to previous quarters. Furthermore, with mortgage rates beginning to stabilise, fourth quarter of 2023 buyer demand will outpace fourth quarter of 2022 levels, which was heavily impacted by the September 2022 mini-budget.

Overall, full year earnings are expected to be in-line with consensus.

As a result, the company expected the 31 December 2023 under-offer pipeline to be significantly higher than the prior year, which will drive year-on-year revenue growth in the first quarter of 2024.