Exclusive: Cautious investors reluctant to launch funds in polarised market, says Savills CEO November 25, 2020 Institutional investors are increasingly reluctant to pour capital into property funds, as the pandemic has turned the sector’s investment cycle upside down, according to Savills group CEO Mark Ridley. Speaking exclusively to City A.M., Ridley said during a wide-ranging interview that October alone saw the third highest level of monthly redemptions ever experienced by open-ended UK real [...]
Savills reports sharp drop in profit due to coronavirus crisis August 6, 2020 Estate agent Savills reported a sharp drop in profit in the first half of the year due to the impact of the coronavirus crisis on the UK housing market. The figures In the six months ended 30 June, group revenue fell seven per cent to £791.4m. Underlying group profit before tax plunged 66 per cent [...]
Savills profit jumps after UK post-election bounce March 12, 2020 Property advisor Savills reported a jump in full-year profit as a surge in UK business after the general election helped to offset Brexit uncertainty and disruption in Hong Kong. The figures Group revenue increased ten per cent to £1.93bn driven by a strong performance and profit before tax increase six per cent to £115.6m, compared [...]
Savills’ sales ‘resilient’ despite Brexit and Hong Kong protests January 13, 2020 Estate agent Savills said sales were resilient last year despite political uncertainty related to Brexit, adding that the UK market picked up following Boris Johnson’s election victory. In a trading update this morning the company said full-year results will be at the upper end of expectations following an “excellent performance” in the UK, growth in [...]
Property investment plummets in first half as Brexit uncertainty hampers market August 8, 2019 British commercial property investment plunged by a third in the first half of the year because of Brexit-related uncertainty, while residential transactions were at their lowest since the global financial crisis, according to real estate giant Savills. Investment activity in greater London commercial property fell 31 per cent in the first half of 2019, while [...]
Why student housing is a first-class honours investment April 4, 2019 When it comes to the UK property market, an investment in knowledge clearly pays off. High yields, low risk, and fast returns are just a few of the reasons reasons luxury student housing has become the new essential in any high-net-worth individuals’ investment portfolio. While many of the UK’s older generation will reminisce of sub-standard [...]
Savills profits slide as it warns of tough year ahead amid Brexit uncertainty March 14, 2019 Property firm Savills has posted a three per cent slip in profit before tax in 2018 as it warned of a decline in transaction volumes over the year ahead. Read more: Savills to hit 2018 targets but warns of uncertainty in the year ahead The figures Group revenue rose 10 per cent to £1.76bn. Profit before [...]
Super-prime time: London surge in high end house sales January 24, 2019 Wealthy buyers have been on a spending spree for multi-million pound trophy houses during the last year, with demand for London’s ‘super prime’ residences bucking a wider slowdown in the capital’s property market. Despite political uncertainty ahead of Britain’s imminent departure from the EU and plans for a new stamp duty on international buyers, activity [...]
Savills: On target for 2018 but 2019 prospects overshadowed by uncertainty January 15, 2019 Property giant Savills delivered mixed messages to the City this morning after warning of future uncertainty despite maintaining expectations for its 2018 performance. Shares dipped two per cent in late-morning trading after it said its 2019 outlook was clouded by macro-economic and political volatility. The group said that it was forecasting to see transaction volumes [...]
UK house prices 2019: What experts say will happen after Brexit December 31, 2018 Has there ever been a more difficult time to predict the future of UK house prices? Political uncertainty looms large over the UK’s property market, but experts have nonetheless given their expectations for the year to come. Bank of England governor Mark Carney showed how dangerous the numbers game can be in November, when he had [...]