The next few weeks leading to the General Election on June 8 are likely to have “a short term adverse impact on residential transaction activity” claims Savills.
The agency, in a statement for its annual general meeting, says that as expected volumes in the prime resi market have been lower in 2017 so far compared with the very strong comparable period ahead of April 2016's increase in stamp duty.
More broadly, the company - which has substantial service and commercial activities as well as residential sales and lettings in the UK and abroad - says it has so far this year traded in line with its expectations.
In the UK commercial markets, Savills has maintained a significant share of the prime central London investment and leasing markets; outside London, its non-residential transactions and professional and development services have grown over the comparable period in 2016.
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