Savills reports “strong” demand

Savills has reported “extraordinarily strong” demand in the previous nine weeks.

As a growing number have left cities since the lockdown and seek more space, the property group has seen a demand in their services.

The group expects pre-tax profits to be ahead of the top end of its forecasts in 2021.

“Currently there is a definite shortage of sale stock, so despite outperformance in 2021, our expectation of a moderation of activity in 2022 remains intact,” said the group.

Property analyst Anthony Codling commented: “The housing market made hay during lockdown, but the opening up of the economy and relaxing of travel restrictions this year is likely to lead to more normal patterns of activity … therefore, this year hay make be taken out rather than put in Savills barns.”