Foxtons posted pre-tax profits of £6.1mn in the six months to the end of June, up from £4.3mn a year earlier. Lettings revenue rose 26 per cent in the same period, offsetting a 19 per cent drop in sales revenue caused by higher mortgage costs. The agency, which has more than 27,000 tenancies, said on Thursday it expected “little change” to the “supply and demand imbalance” that had driven up rent in London, but expected the pace of rent rises to cool in the second half of the year.