What’s happening in the property market?
Tue, Sep 24, 2019
One of the questions we’re most often asked by clients is ‘What’s happening in the property market?’
Although we’re experts in property, with so many uncertainties about the shape of the future it’s a challenge for any of us to accurately predict how the next few months will look.
The Bank of England, working in partnership with businesses in every part of the UK, suggests that compared to the same period last year, the current watchword is ‘caution’. Potential vendors are adopting a ‘wait and see’ approach, with fewer houses coming to market. Buyers are taking longer than usual to commit to purchase, and are more inclined to drive for price reductions or buying incentives.
An understandable result of the pressures on high street retailers is hesitance on the part of commercial investors looking at retail space, despite rent reductions and increasing supply. As we’ve seen reflected in our own Commercial department, however, there’s plenty of competitive interest in warehousing and industrial space.
When the market is uncertain, it’s more important than ever that our clients know they’re in safe and steady hands. Our commitment to service excellence, and a detailed knowledge of our local markets has meant our business continues to thrive. We know exactly how the markets are responding in each of our areas, week by week…and our professional experience means we can advise our vendors and landlords how best to react.
We’re not sitting back waiting to see what happens, we’re out there making it happen. The future may feel uncertain, but one thing we can be sure of is that clients will always need knowledge, professionalism and the highest standard of service. In restructuring the way we work we believe we’ve created the strongest possible base from which to provide this, and keep you, our clients, in pole position.