Savills has reported that in the year to date it is trading in line with expectations, and ahead of the same period last year.

This is despite volumes in the UK residential market being lower.

However, its UK rural business has performed better than expected.

Global firm Savills expects a “short-term adverse impact” on UK residential transaction activity in the period leading up to the General Election.

It concluded in its AGM statement of yesterday: “While we have started the year well, typically the first four months represent a disproportionately small element of the expected out-turn for the full year.

“Against a political and economic backdrop which demonstrates greater levels of uncertainty than a few months ago, we continue to anticipate that our performance will remain in line with our expectations.”