Savills Share Price Forecast - SVS
Real estate company Savills delivered a positive year-end update this morning, noting a boost from the election result had helped its operation in the UK in particular.
The group, which counts the UK and Hong Kong as two of its key markets, said that thanks to an “excellent performance” in the UK and remarkable growth in the US, it expects its full year 2019 numbers will be at the upper end of the board’s expectations.
As you can see on the chart below, Savills share price has made a brand new all-time-high. SVS share price is now at £1229 and the uptrend is set to continue.
For the coming week, the psychological round number of £1000 should act as support and the next price target is £1300.
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It was broadly positive on the coming year for real estate markets as well, adding: “Increased political stability in the United Kingdom should maintain improved sentiment in real estate markets. Global investor demand for secure income, restricted supply and expectations of continued low interest rates suggest that the medium and long term dynamics of the UK real estate market should remain largely positive. Nevertheless, some caution may remain until the full impact of Brexit is better understood.”.
This has in turn seen a read across to some of the UK housebuilders, in particular Taylor Wimpey (TW.L) whose shares are trading 3% higher at time of writing. They will release an update of their own tomorrow. The company share currently has one of the highest dividend yields within the FTSE100 according to analysts estimates for the year.
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