Value of UK housing stock dropped by £27bn in 2023 as high costs hurt market February 14, 2024 The UK’s housing stock has seen its first annual decline in value since 2012 after some £27bn was wiped off last year, according to new analysis, amid higher mortgage costs and pressure on household finances. Figures from property firm Savills showed that despite the fall, the value of housing remained £1.585tn higher than 2019, before [...]
Savills’ share price tumbles as estate agent warns over health of housing market August 10, 2023 Savills’ share price has plummeted after the estate agent blamed “obvious challenges” in the housing market for slumping revenues in the first half of the year. As rising mortgage rates knocked buyer confidence, the real estate advisor said group profit before tax fell to a weak £6.0m in the first six months of the year [...]
Savills warns of ‘acute’ house price plunges in London next year November 3, 2022 Savills, one of the biggest estate agents in the UK, has warned of an “acute” drop in house price value in London next year. A dreaded combination of higher mortgage rates and the cost of living crisis will fuel the price drop, the company said. The average cost of homes in the outer prime London [...]
New York, London and LA top list of most resilient cities while Scandinavia dominates ESG rating May 16, 2022 The most resilient cities in the world have been named as New York, London and Los Angeles, with Scandinavia dominating environmental and social governance. New figures from Savills highlighted how new population centres such as Berlin and Atlanta broke into the top 20 for the first time, but traditionally strong metropolises weathered the pandemic the [...]
Death of the office? Don’t tell City businesses as leases shoot up in the first quarter April 26, 2022 London’s office market looks fitter and healthier than ever before, according to the two of the UK’s largest property firms, despite the lures of working from home. Take up of office leases in central London shot up 89 per cent year-on-year in the first quarter, CBRE data shared exclusively with City A.M. revealed. City firms [...]
EasyJet, Asos and Savills among worst companies for gender pay gap April 6, 2022 Easyjet, Asos and Savills are some of the worst UK companies when it comes to gender pay gap, even though differences have narrowed for the second consecutive year. According to an analysis by the Times, while the overall median pay gap went down from 10 to 9.8 per cent on last year’s levels, women at [...]
City Moves: Who’s switching jobs in the Square Mile this week? March 1, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Savills Savills has appointed an associate lecturer at University College London as new associate in its London planning team. Joining with seven years’ experience from across the UK and Canada, Prashanna Vivekananda will focus on both life [...]
Big-money London property sees bumper 2021 October 11, 2021 Some 352 £5m-plus transactions have completed this year already, more than in the entire years of 2020 and 2019. That includes 94 homes selling for more than £10m. Nearly half of all sales were in Chelsea, Kensington, Belgravia, Notting Hill and St. John’s Wood. Savills, which compiled the data, said the market had predominantly been [...]
Renters return to London with a vengeance as City workers want to walk to work September 27, 2021 London prices have recorded the strongest quarter of growth in over a decade as the capital’s prime rental market now leads the recovery. A return of office workers and employees relocating for work meant prices were up 2.9 per cent in the third quarter, the strongest quarter of growth since March 2011, according to Savills. [...]
Savills profits swell eight-fold, reaping rewards of a UK house buying frenzy August 5, 2021 Real estate services group Savills has seen its profit before tax surge more than eight-fold in the past six months, as the firm posted record levels of UK residential transaction advisory. The firm raked in revenue of £932.6m in the six months to 30 June, up by some £141.2m in comparison to last year. Meanwhile, [...]