UK residential market starting to pick up, according to Savills

UK residential market starting to pick up, according to Savills

Real estate agents Savills have said that following a very quiet start of the year and since the middle of March, the residential property market in the UK is now seeing much stronger levels of activity.

Earlier, Halifax – one of the biggest mortgage lenders in the UK – have claimed that the UK house price growth surprisingly cooled in the month of April, which further adds of signs of weakness within the housing market, and more broadly, the consumer economy.

However, ahead of their annual general meeting with their shareholders, Savills put out a statement which has said that the UK trading in the year to date period was actually ahead of their expectations, albeit marginally, and this is partially down to strong performances in Central London commercial transactions, in addition to its property management business.

Savills are known all over the globe with a very large international presence, and have said that they had marginally traded behind expectations in continental Europe as a direct result of delays in transactions, but this did not deter them from being in line with their expectations overall, which is where their current performance sits.

The firm, which operates across Europe, North America, Asia and Australasia, also said it anticipates performance in the full-year to be in-line as well.

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