‘Boris bounce’ lifting UK house sales
Savills says ‘clear outcome’ of election boosted property sales

A free daily digest of the biggest news stories of the day - and the best features from our website
Thank you for signing up to TheWeek. You will receive a verification email shortly.
There was a problem. Please refresh the page and try again.
A “Boris bounce” has driven an increase in UK house sales since the December general election, according to a leading estate agent.
In a buoyant stock market update, estate agents Savills said: “In the UK, the effect of Brexit and political uncertainty suppressed market activity in both commercial and residential transactional markets until mid-December.
“The clear outcome of the general election prompted a strong close to the year as confidence to transact returned to the market.”
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
The agency's announcement, which sent shares soaring by 7%, also informed investors and analysts that it expects its 2019 full-year sales and profits to be at “the upper end of the board’s expectations”.
The agency, which was founded in 1855, added: “Increased political stability in the UK should maintain improved sentiment in real estate markets... Nevertheless, some caution may remain until the full impact of Brexit is better understood.”
Commentators have responded positively to the annoucement, with Numis analyst, Chris Millington, telling stocks-focused magazine Shares: “Savills has delivered results broadly in line with last year, which is better than expected and a great achievement in light of the volatile market backdrop.”
–––––––––––––––––––––––––––––––For a round-up of the most important business stories and tips for the week’s best shares - try The Week magazine. Start your trial subscription today –––––––––––––––––––––––––––––––
The news comes days after it was revealed that a Chinese property tycoon has agreed to buy a 45-room mansion overlooking Hyde Park in London for more than £200m. On completion, the sale will become the most expensive house to be sold in the UK, the Daily Mail reports.
The Guardian adds that a “string of ultra-luxury home sales” have been signed following the Tory victory in December. A European family bought a house in central London for £65m, while a US client bought a £50m home in Chelsea.
Last month, experts predicted a “short-term uptick”, as foreign investors move to buy property before the pound rises further and before a 3% surcharge on overseas buyers is announced in a new year Budget, says the paper.
Continue reading for free
We hope you're enjoying The Week's refreshingly open-minded journalism.
Subscribed to The Week? Register your account with the same email as your subscription.
Sign up to our 10 Things You Need to Know Today newsletter
A free daily digest of the biggest news stories of the day - and the best features from our website
-
Biden's first rodeo
cartoons
By The Week Staff Published
-
Biden's stumble
Cartoons
By The Week Staff Published
-
The daily gossip: Travis Kelce chats about Taylor Swift's Chiefs game visit, Hollywood writers thrilled with details of new contract as strike ends, and more
The daily gossip: September 27, 2023
By Brendan Morrow Published
-
UK house prices fall at fastest rate for nearly 14 years
Speed Read First-time buyers may welcome the news but higher than expected inflation means mortgage costs remain an issue
By Jamie Timson Published
-
Why is levelling up causing Rishi Sunak so many problems?
Today's Big Question Tory revolts on onshore wind farms and housebuilding targets threaten government’s flagship policy
By The Week Staff Published
-
The cost-of-living support available from government
feature Downing Street says no further measures will be rolled out before new PM is in place
By The Week Staff Published
-
Labour shortages: the ‘most urgent problem’ facing the UK economy right now
Speed Read Britain is currently in the grip of an ‘employment crisis’
By The Week Staff Published
-
Will the energy war hurt Europe more than Russia?
Speed Read European Commission proposes a total ban on Russian oil
By The Week Staff Published
-
Why the government opposes a windfall tax on oil and gas profits
feature BP profit surge triggers renewed calls for a levy to help struggling households
By The Week Staff Published
-
Will Elon Musk manage to take over Twitter?
Speed Read The world’s richest man has launched a hostile takeover bid worth $43bn
By The Week Staff Last updated
-
Will Britain fall into a recession this summer?
Today's Big Question Spiralling cost of living comes after the Russian invasion of Ukraine
By Sorcha Bradley Published