Many property companies suffered a slow down in 2016/17 due to uncertainty after the country voted to leave the EU. For Caxtons Chartered Surveyors, one of the largest independent firms of property consultants in Kent, Medway and across the South East, the situation it was no better and business was slower.
However, for Caxtons, 2017/18 proved to be an exceptionally good year – in fact their best year ever.
Caxtons is a company that embraces many aspects of the property sector and, as such, always factors in that some departments will outperform others. However, due to a pretty buoyant commercial market through 2017/18, most departments performed really well. In particular, that performance included Commercial Agency, Insurance and Professional Services.
To illustrate this as a percentage of turnover, profit increased by more than 116% on the previous 12-months. Evidence, if any was needed, of the hard work of the 95 plus staff members located in Caxtons’ offices across Kent.
But this Kent based firm has no doubt that 2018/19 will present them with new challenges.
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 another potential interest rate increase. But we know that there will be other trials ahead.
“Property is repeatedly affected by economic uncertainty and change. 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 this impacts on businesses. 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.”
Caxtons has won the EGi Deals winner in Kent Award for six of the past seven years for the most commercial property transaction. Caxtons is consistently in the top 40 of the Property Week ‘Top Agents in the UK’ listings.