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Foxtons - don't laugh

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    Foxtons - don't laugh

    £85 to £45 in three months - ouch.

    Seemingly Russian and Middle Eastern buyers are jumping ship. Don't buy property in London at the minute, catching a falling knife for sure.


    "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

    #2
    Similar performance to Verge and Dash over the same period.

    FoxtonCoin

    Comment


      #3
      Originally posted by scooterscot View Post
      £85 to £45 in three months - ouch.

      Seemingly Russian and Middle Eastern buyers are jumping ship. Don't buy property in London at the minute, catching a falling knife for sure.


      Actually it was 400pence when it IPOd in 2013 - Now it is 45 pence

      Thats a drop of 87% - Impressive

      Personally I dont understand Foxtons - They used to sell upmarket properties for time poor people - Nowadays they are trying to sell council flats and competing with Bairstow eves and the like

      I dont think they will survive

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        #4
        I don't know enough about their business to make any intelligent comments regarding their performance or lack thereof. However the underlying chart tells me that the shareholders in a company that makes profits in a business dealing with property transactions are expecting the number of transactions to shrink and thereby also profits. This would be supported by the idea of growing economic uncertainly as the UK withdraws from EU. Investors don't like uncertainty so they act.
        "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

        Comment


          #5
          Originally posted by scooterscot View Post
          I don't know enough about their business to make any intelligent comments regarding their performance or lack thereof. However the underlying chart tells me that the shareholders in a company that makes profits in a business dealing with property transactions are expecting the number of transactions to shrink and thereby also profits. This would be supported by the idea of growing economic uncertainly as the UK withdraws from EU. Investors don't like uncertainty so they act.
          Terrible analysis - its share price has been in decline almost from day one, including periods when London property was growing 12% YoY.

          Comment


            #6
            Day one huh? Must be a non-profit organisation.

            "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

            Comment


              #7
              Originally posted by TheGreenBastard View Post
              Terrible analysis - its share price has been in decline almost from day one, including periods when London property was growing 12% YoY.
              The writing was on the wall at least four years ago.

              As I recall, Foxtons was charging 3% commission when most other estate agents were charging only 2% or thereabouts.
              Work in the public sector? Read the IR35 FAQ here

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                #8
                I'm not sure wealthy people gives two owl-hoots about fees given the y-o-y increase.
                "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

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                  #9
                  Its starting...

                  Rise in lenders valuing homes below sale price
                  "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

                  Comment


                    #10
                    Foxtons deserve all they get. It's a battle and a half to get your deposit back off them after renting, even if you leave the flat cleaner than when you took it on!
                    The greatest trick the devil ever pulled was convincing the world that he didn't exist

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