EweMove on track to double in size by the end of next year

Hybrid agency EweMove has continued growing with the sale of 37 new territories in the first six months of the year according to a trading statement.

Its parent company - The Property Franchising Group, the UK’s largest property franchisor - says EweMove’s growth so far in 2021 sets a new record for the total number of territories operating at 149. 

TPFG’s goal to double the size of EweMove territories to 230 by the end of 202 is now “on track” the statement says.

Elsewhere TPFG has also shown growth, acerbating away from the difficulties of 2020 created by the depth of the pandemic.

The Property Franchise Group's brands are Martin & Co, EweMove, Hunters, CJ Hole, Ellis & Co, Parkers, Whitegates, Mullucks and Country Properties.

TPFG group revenue increased 111 per cent to £11.4m while management service fees - effectively royalties from franchisees - soared 69 per cent to £7.1m.

The sales agreed pipeline increased 247 per cent to £29.5m, and the group is now managing 73,000 rental properties - a year ago the figure was just 58,000. Some of this growth is down to the recently-agreed acquisition of Hunters.

TPFG chief executive officer Gareth Samples says: “We are delighted to report that the first six months of trading have been an exceptional period for the Group. The UK’s housing market has seen activity levels that I have not witnessed before in my career, supported by peoples’ desires to move homes. 

“We had the resources and capabilities to make the most of the exceptionally busy housing market and deliver a first-class service to those looking to buy, sell and let. Prior to the start of this year, we had enhanced the Group’s senior management team and have continued to do so, offering our franchisees advice and support commensurate with their scale and ambitions. 

“This, coupled with the acquisition of Hunters and our [mortgage services] partnership with LSL, has undoubtedly supported us in our mission to be the UK’s leading property franchisor.”