Shares in estate agency Foxtons (LON:FOXT) rose over 5 percent on Wednesday, despite a fall in total revenue.

Revenue came in at £35.1 million during the three months to September 30th, down from £37.5 million the previous year. Total revenue for the year to date fell in 2017 to £93.7 million. Sales revenue fell to £10.3 million over the quarter, with revenues in their mortgage business, Alexander Hall, in line with the prior year at £2.3 million.

Nic Budden, CEO, commented in the results:

“This was a resilient third quarter performance when set against the challenging conditions in the London property market. We have maintained our relentless focus on delivering a leading proposition for our customers and in our lettings business we are pleased with the reaction to our recent growth initiatives.”

Foxtons have seen a string of a disappointing results over the last couple of quarters, continually battling falling profits and revenues as the property market in London continues to underperform.

Shares rose on the results however, with investors taking heart from a rise in the number of lettings.