Take-up of warehouse space surges towards end of 2019
According to Savills, a wide range of occupiers are causing a surge in demand for industrial warehouse space (units of 100,000 sq. ft. plus), with take-up due to hit a total of 33 million sq. ft. by the end of this year. In particular, take-up by third-party logistics (3PL) providers has hit a record high, climbing to 8.3 million sq. ft. by Q3.
For full briefing click here. Property Market Review December 2019
INTEREST RATES ON HOLD
The Bank of England (BoE) left interest rates unchanged following the latest meeting of the Monetary Policy Committee (MPC), although two members of the nine-strong committee once again voted for an immediate cut in rates.
For full briefing click here. Economic Review December 2019
A Conservative majority – what next?
According to Knight Frank, some certainty has returned to the property market following the general election result. Their opinion is that there will be growth in both property demand and supply, as those who were holding off action in the midst of political uncertainty decide to take the plunge.
For full briefing click here. Residential Property Review December 2019
Growth confined to the industrial sector
The latest UK Commercial Property Market Survey from the Royal Institution of Chartered Surveyors (RICS), reports of 62% of respondents believe the commercial property market as a whole is in the downturn phase of the property cycle.
Projections for the retail sector remain in negative territory, whilst office rents are expected to see little change over the next three months. In contrast, the industrial sector, particularly in prime locations, continues to return solid rental growth projections for the coming twelve months in all parts of the UK.
For full briefing click here. Property Market Review November 2019
GROWTH SLOWEST SINCE 2010
Although the UK economy did expand during the third quarter, thereby avoiding recession, growth was weaker than expected with the annual rate of expansion the slowest in almost a decade.
For full briefing click here. Economic Review November 2019
First-time buyer numbers hit a 12-year high
Numbers of people buying their first home reached a monthly high in August, achieving a level not seen since 2007, before the financial crisis.
The average first-time purchaser borrowed £175,361 or around 80% of the property value. The amount borrowed equates to a multiple of 3.52 of first-time buyers’ income, but with continuing low interest rates, this only represents 17.1% of total household income.
For full briefing click here. Residential Property Review November 2019
£450K PENSION POT NEEDED TO RETIRE WELL
Recent research1 has shown that savers on an average salary need a pension pot of £447,000 to retire comfortably at the age of 65. This sum would fund their retirement until they were 100 years old, the research suggests.
For full briefing click here. Your Money Autumn 2019
Majority of commercial mortgage brokers optimistic about year ahead
The recently released ‘Broker Barometer’ from Shawbrook Bank has revealed that 67% of commercial mortgage brokers are feeling confident about the lending environment in 2020. Just over half of respondents (53%) stating they feel confident about business growth in the year ahead.
For full briefing click here. Property Market Review October 2019
UK SET TO AVOID RECESSION
Better-than-expected gross domestic product (GDP) data for the latest three-month period has all but dispelled fears of a UK recession this year, although the current rate of growth does remain relatively lacklustre.
For full briefing click here. Economic Review October 2019
Continuing uncertainty in residential property market
The latest Royal Institution of Chartered Surveyors (RICS) UK Residential Market Survey, has reported a decline in home listings coming onto the housing market, with the net balance for new instructions slipping to its weakest point for more than three years at -37%.
For full briefing click here. Residential Property Review October 2019