Annual results announcement
End of year financial results
3rd - 9th February 2020
Connells Group increases market share
Continued growth for leading estate agency business
Recently released figures show that Connells Group’s estate agency business increased its market share of new instructions in 2017 by almost 4%, despite a reduction in supply of instructions to the market:
“During the course of 2017, Connells Group’s market share has increased as a result of the unwavering focus placed within the business on winning new instructions, and our commitment to offering a full service and consistently good value to our customers via our 600 strong high street estate agency branch network” says David Plumtree, Connells Group Estate Agency Chief Executive.
“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%,” continues David. “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”
Despite a somewhat subdued marketplace in the final quarter of 2017, Connells Group has had an encouraging start to the year with increased numbers of applicants registering their interest in looking for their next move, and enters 2018 with a sales pipeline marginally up on the previous year:
“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,” concludes David.