Savills, founded in 1855 is a British based real estate company that deal with variety of different services. Such as, commercial property management, residential sales and lettings, property management and land. They are internationally based and regarded as one of the largest real estate companies in the world. They are listed on the London Stock Exchange and FTSE 250 Index.
Since the beginning of Savills floating on the stock exchange, it has been in a strong bullish trend and we believe it is not done as of yet. United Kingdom’s property market is thriving right now, despite our economy but people are still buying!
The most interesting part is that during Covid19 pandemic, despite all Estate Agencies being forced closed, Savills stock value was increasing.
Weekly Timeframe – 24th May 2022
(IV) on a higher degree completed at March as we had that sudden shock of Covid19’s infection rate increasing throughout the world including the United Kingdom. As soon as we entered into global lockdown i.e. all businesses to close down, Quantative Easing production pumping cash in all major Central Banks and grants being provided to small businesses.
Until December 2021, 2 years later, we witnessed a 5 wave bullish sequence into wave I of (V). This year, we mostly took out all those gains as the market is correcting deep into wave II and it seems like it is correcting as a Double Correction. This is subject to price remaining above 620 invalidation level.
Daily Timeframe – 24th May 2022
Within wave II, as mentioned, we are unfolding as a Double Correction. Currently seems like we are unfolding the 7th swing into wave ((Y)). Wave ((Y)) can be expected to complete within the range of 815 – 696 prior to advancing into wave III.
Propert Market outlook of the United Kingodom
According to Savills’ research, within the next 5 years, house prices are expected to increase on average by 13.1%. Particularly within the north of England where currently the housing market is booming there.
Savills expects that demand for family homes will be more focused on the commuter belt and its fringes “as hybrid working patterns become more established”.
Seems like that the value of Savills’ share price would increase as we progressively experience more success within the property market across the nation.