Property market helps Winkworth pass 100-office mark

The UK's relatively buoyant property market made for a good start to the year at M Winkworth on Thursday, with the AIM-traded real estate franchisor passing the 100-office mark.

Winkworth reported it was opening new offices in the first quarter in Colindale, Potters Bar and Milford-on-Sea.

In 2015, the company opened two new offices and resold eight franchises to new agents. With the addition of the three new openings, the company expected to have more than 100 officers by the end of the first quarter.

Winkworth's activity was concentrated primarily in London and the South East.

"In the fourth quarter we saw a doubling of new franchise enquiries over the previous period, and we have entered 2016 with a strong start across our whole network", said CEO Dominic Agace.

"Our lettings business continues to make excellent progress and, with record low interest rates and wage inflation returning, there are signs that the sales market remains well underpinned", he added.