Countrywide profits up by 47pc

The property services group also reported a 4% jump in total income which reached £258.8m during the period.

Bob Davies, chairman at Countrywide plc, said: “We are pleased to announce encouraging results for the first half of the year, representing a positive start to our return as a listed company.

“Continuing improvements in the availability of mortgage finance, developing customer sentiment and the impact of government initiatives should help to stimulate further the level of activity in the UK housing market.

“In this more encouraging environment, the board remain confident in the outturn for the year.”

Countrywide's shares have risen by almost 54% since its IPO in the Spring.