End of the boat for Savills.

Savills are making cut backs after a troubled year in the property market.

The property agent is not going to hire its usual superyacht, which it normally hires for the property industry's annual meet and greet in Cannes.

The 63metre, Lady Lola (list price for charter, roughly £285,000 per week) and the magnums of champagne will be replaced by some display boards , balloons and glasses of Cava.

Instead the Savills crew will be land locked in the exhibition hall alongside the other agents.

They should be relieved that they are at least still afloat after the worst year on record in the global property market.

If the property market storms continue many uk estate agents will be lucky to stay afloat.

"To the lifeboats - Women and estate agents first."

Read more in the Telegraph