Foxtons, London's most recognisable lettings and sales brand, has reported a 57% collapse in pre-tax profit to £4.4m for the first half of 2025, with revenue slipping 3% to £83.7m. The headline figures tell a story that extends far beyond one company's boardroom: the twin pressures of a subdued sales market and the operational upheaval caused by the Renters' Rights Act are now visibly showing up in the financial results of Britain's estate agency sector, and Foxtons' scale and London concentration make it an early bellwether for what other operators can expect.