High-end estate agent Savills has said its profits for this year will be significantly below forecast, only two months after issuing an initial profit warning, as sales fall and house prices shed value.

The UK listed property consultant, which often relies on City bonuses to bolster sales, said this morning its 2008 profit will be well below analysts expectations and it would "consider its dividend policy" in light of late 2008 and early 2009 trading.