Brexit isn't helping' – profits dive 18% at Savills

**vetran** · 10 August 2018, 22:03

not anything to do with online estate agents then?

Lets blame it on Brexit.

Are you sure you caught the syphilis off a toilet seat not your catholic priest "Uncle Boris"?

**scooterscot** · 11 August 2018, 08:56

The US & UK is about to be taught a lesson on why populism does not work. Better late than never I suppose.

**Mordac** · 11 August 2018, 15:48

Originally posted by AtW View Post

https://www.theguardian.com/business...-18-at-savills

Really? No way, who could have predicted that???

It's got f-all to do with Brexit and everything to do with the massive hikes in stamp duty. Savills market is the expensive end of the property market, and if you have to pay 15%* on top of an inflated price, you're going to think twice about buying. Less buyers = less people able to sell. A lot of estate agents are going to suffer, unless, ironically, there's a large correction in the property market. Which means a lot less stamp duty to HMT. Well done George, yet another winner you can stick on your CV.

*The current rate for people who already own a property, which is probably most of the buyers of £2m+ houses these days. It's cheaper for them to rent than buy a second property.

Brexit isn't helping' – profits dive 18% at Savills