You are here:

Savills predicts global property slump

Created:
9 July 2008
Written by:
Claer Barrett

Savills shares fell 10 per cent after the company warned that the UK property slowdown has spread to Europe, where transactions are declining as financing dries up. Although the company says that the Asian market is proving "resilient", it is "not immune". Residential transactions in London are down 45 per cent year on year, with reported price falls of 7.5 per cent in the first half of 2008.

Advertising

IC VIEW

FairlyPriced

House broker ABN Amro has cut its full-year pre-tax profit forecast by 16 per cent to £52m. With no sign of either market improving, Savills is fairly priced at 198p.

LAST IC VIEW: Good value, 353p, 12 Mar 2008

ALSO SEE: Sector Focus, Double Trouble for Property Agents

  • Back to top

Products and Services from Barclays Stockbrokers.

The UK’s No.1 Stockbroker

Stocks and Shares

Contracts for Difference

Financial Spread Trading

Gilts and Bonds

Funds Market

FX

Education Centre

Trading Simulator

Advertorial Feature

Spread your risks with spread trading

With so many big moves in the world's financial markets, there have seldom been more opportunities around for spread traders. Isn't it time you joined them?

by Dominic Piccarda