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Savills: London Property Down 7.5% In First H

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Tuesday July 8, 08:01 AM
Savills says hard to predict year result
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LONDON (ShareCast) - Estate agent Savills (LSE: SVS.L - news) says deteriorating trading conditions in the property market makes it "very (Advertisement)
difficult" to predict the outcome for the full year.
It warned that trading conditions for its UK and US commercial capital markets businesses and UK residential and mortgage broking units continued to worsen in the first half.
Volumes dropped significantly on last year during the six months to 30 June, while the number of transactions is also falling in many parts of Europe as financing becomes more difficult to obtain.
Transaction volumes in London are around 45% lower year on year, with
prices being adjusted downwards by some 7.5% in central London
during the period.

Hard to predict? Or, hard to admit that the biggest crash in economic history is underway? London will be the epicentre IMO.

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  • 396 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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