May 8, 2018 / 11:54 AM / 2 months ago

Savills sees UK residential market picking up steam

(Reuters) - Britain’s residential property market has seen stronger levels of activity since the middle of March after a very quiet start to the year, real estate agents Savills (SVS.L) said on Tuesday.

FILE PHOTO: A Savills property estate agent is seen in south London, Britain September 20, 2016. REUTERS/Stefan Wermuth

One of the country’s biggest mortgage lenders, Halifax, said earlier on Tuesday that UK house price growth unexpectedly cooled in April, adding to signs of weakness in the housing market and the consumer economy more broadly.

In a statement ahead of its annual general meeting of shareholders, Savills said that UK trading in the year to date period was slightly ahead of expectations, helped by strong performances in Central London commercial transactions and its property management business.

Savills, which has a large international presence, said it had traded marginally behind expectations in Continental Europe due to delays in transactions, but its overall performance in the year to date period was in line with expectations.

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.

Reporting by Radhika Rukmangadhan in Bengaluru

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