Upmarket estate agent Savills reported buoyant demand for expensive UK homes as the UK’s housing boom helps stave off the effect of rising costs.
In a trading update on Tuesday morning, Savills said demand had outstripped expectations and would probably lead to overall profits being “materially ahead of 2019” this year.
The housing market boom has also given a boost to Persimmon and Vistry Group, two of the UK’s largest housebuilders. The companies said sales were continuing to run well above pre-pandemic levels.
Since May last year, when restrictions on buying and selling homes were lifted, the UK property market has been strong. House prices have hit record levels on the back of robust demand from buyers, particularly those seeking more space in which to work from home or outdoor areas.
Average UK house prices surpassed £270,000 for the first time last month, and Persimmon said its current sales rate was about 16 per cent above 2019 levels.
But online estate agent…