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Foxtons says central London property market will take time to recover

Reuters
A Foxtons estate agent sign is seen on the window of a branch in north London September 3, 2013. REUTERS/Suzanne Plunkett

LONDON (Reuters) - Estate agent Foxtons (FOXT.L) said on Thursday that the number of sales in the prime central London property market was taking time to recover due to price rises and increases in a property tax.

The company, which saw its turnover rise 8.8 percent to 43.5 million pounds in the three months to Sep. 30, said however it was in a strong position to benefit from growth in outer London areas.

In December, British finance minister George Osborne cut stamp duty on most home purchases but the amount paid by those buying the most expensive homes, including many of those in central London, rose.

(Reporting By Costas Pitas, Editing by Paul Sandle)