For most property companies, 2016/17 proved to be a slow year with unease and uncertainty following the Brexit 'out' vote in June 2016. Caxtons was no exception to this.
However, for Caxtons, one of the largest independent firms of property consultants in Kent, Medway and across the South East, 2017/18 proved to be an exceptionally good year – in fact the best year ever.
Caxtons is a property company that embraces many diverse aspects of the sector, including residential and student lettings, commercial lettings and sales and all facets of professional property services, and we always factor in that some departments will outperform others. However last year, thanks to a pretty buoyant commercial market, most departments performed really well. That performance spanned Commercial Agency, Insurance and Professional Services in particular.
To demonstrate this, profit, as a percentage of turnover, increased by in excess of 116% on the previous year. A testament to the hard work of our 100 staff members located in offices across Kent.
But we are not complacent and have no doubt that 2018/19 will be challenging and with many 'unknowns'.
Neil Chatterton, Managing Director said "Some of the known issues that will impact us in the coming year include the impending tenant fee ban that will affect our residential lettings and management departments, DE (Depart Europe) Day on 31st March 2019 and the threat of another potential interest rate increase. But we know that there will be other trials ahead.
"Property is repeatedly affected by economic uncertainty and change and this often, if not always, presents externally as a downturn in activity and internally as a lack of professionals training and entering the sector at graduate level. Inevitably both impact on businesses like ours. An extreme example of the shortage of talent is with building surveyors, where the industry in general is suffering greatly from a lack of experienced surveyors as well as new entrants to the property sector - and Caxtons is not exempt.
"So, in order to thrive we must continue to provide an excellent service to our clients, make ourselves even more attractive as an employer, and nurture our staff whilst paying attention to their personal development."
Neil Chatterton, Managing Director