Property firm experienced lower trading volumes in second half of 2007 but says results are expected to be ahead of expectations

Savills has announced that 2007 results will be slighty ahead of expectations despite lower trading volumes in the second half caused by the credit crunch.

The property company said the outlook in the UK and US would depend on how quick confidence returned to the financial markets.

Savills said its consultancy, property and facilities management, financial services and fund management arms had performed well.

It said the UK’s residential market was not as severely affected by the credit crunch and property markets in Asia and Australasia remained strong.

Hong Kong and Singapore were particularly active said Savills, and there was increased demand for property assets in Australia.

The 2007 results are due to be published on 12 March.