The statement said the investment markets remain active with yields hardening; our international client. And despite continuing weaknesses in leasing markets in London and the South East of England, there are signs of renewed tenant interest. There is still good demand for well located out of town retail schemes.

FPDSavills is also a leading player in the prime residential market and here, after a very slow start to the year, activity levels have recovered strongly. Sales of new homes have also increased with continuing interest from investors.

The upbeat trading analysis concluded: "With generally improved confidence in the UK economy and little impact so far of increased interest rates, property markets, after a slow start, have performed better in the second half of the year than expected. On this basis the board believes that the full year profits will materially exceed current market expectations.