Tag: Savills
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Warehouse Wonderland – UK’s Online Retail Storage Rising
The latest findings from a comprehensive report by Savills, in partnership with the UK Warehousing Association (UKWA), have shed light on a staggering surge in warehouse occupation by online retailers—a whopping 813% increase over the past decade! Since 2015, the footprint of online retail warehouses has ballooned from a modest 8 million square feet to…
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Homes with Heritage Names Fetch Higher Prices
It turns out that a name isn’t just a name—it could be the key to unlocking millions in value for your home. A recent study by property agents Savills has revealed an intriguing trend: homes bearing traditional names like The Manor House, The Old Rectory, and The Old Vicarage are not only fetching eye-watering prices…
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Savills Hit by Rising Interest Rates and Inflation
High-end estate agency Savills has attributed a sharp decline in profits to the harsh impacts of high inflation and escalating interest rates. The estate agent, which deals in both the commercial and residential sectors, has faced significant hurdles, leading to a notable decrease in revenue and profit margins over the past year. This downturn highlights…
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House Prices Defied Predictions – The Unexpected Stability of 2023’s Housing Market
There were widespread predictions of doom and gloom for the housing market in 2023, but the actual outcome left many experts scratching their heads. Despite rising interest rates reaching heights not witnessed since the financial turmoil of 2008, the UK’s housing market demonstrated remarkable resilience. This tale of unexpected stability serves as a stark reminder…
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Stamp Duty Change Could Impact BTR Investment
Chancellor Jeremy Hunt’s recent budget announcement could introduce a major shake-up for the build-to-rent market. At the heart of the controversy is the abolition of Multiple Dwellings Relief (MDR) on stamp duty, a decision that has sparked a wave of concern among investors, legal experts, and housing associations alike. A Surprising Pivot While the Chancellor’s…
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Single Family Housing Grows in Demand
Savills has unveiled a report emphasising the growing interest in single-family housing (SFH) within the Build to Rent sector. This comprehensive study, a collaborative effort led by Dr. Jacqui Daly, Guy Whittaker, Alistair Walters, and Corranne Wheeler from Savills Research & Consultancy, sheds light on the shifting dynamics of the rental market, offering an insightful…
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Office Rent Trends – What’s Next for 2024?
Savills’ “Global Occupier Markets: Prime Office Costs” analysis reveals that in 2023, the average rent for top-notch office spaces in key global cities ended 1.9% higher than the previous year. However, the overall cost for tenants—factoring in the expense to fit out these spaces—jumped by an average of 2.6% year-on-year. This uptick is largely due…
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UK Housing Market Takes a £27 Billion Hit, But Remains Strong Overall
The UK housing market experienced a decrease in value last year, shedding around £27 billion across the nation. This decline, spurred by rising mortgage costs and increased financial strain on households, marks the first of its kind since 2012. However, despite this setback, the housing market has shown remarkable resilience, maintaining a substantial overall value…
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UK’s Build to Rent Boom Continues
Growing investment for Build to Rent (BTR) properties is signaling a major shift in the way city dwellers find their homes. The BTR sector has seen an influx of £4.5 billion in investments throughout 2023, as reported by the leading lettings agency Savills. This investment marks the second highest annual figure ever recorded, slightly trailing…
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UK’s Build-to-Rent Homes Delayed by Planning Red Tape
In recent years, the UK’s housing market has seen a significant shift with the rise of Build-to-Rent (BTR) homes. These developments are designed to be rented out immediately upon completion, offering a modern solution to the country’s housing shortage. However, new findings from the British Property Federation (BPF) reveal that the sector faces considerable delays…