The British Property Foundation (BPF) welcomed global property investment owners, investors and advisors to a Breakfast Briefing at Grosvenor London (GBI) offices on 2nd February to reveal the findings of their Ipsos MORI poll.
The views regarding the prospects for the UK’s economy and real estate sector in the year ahead and beyond was polled between October 2017 and January 2018. Sentiment was positive and the word that everyone is concerned about – BREXIT – was not the primary concern here.
The survey highlights included the following:
• There was £30 billion pound invested in residential projects last year
• Brexit is certainly a concern but not the biggest concern of the businesses polled
• The main issue is staff retention, employment and the threat of technology cyber-attacks
• Retail proposals for towns or cities need to have the correct infrastructure in place if they are to be successful
• Whole town refurbishments very rarely happen due to multiple landlords as it is really difficult to get mutually agreeable project of investments
• More retail options will be converted into residential specifically aimed at the retirement market as they are city and town centred based
• 5000 homes are being built in South East and 1300 houses are being built in Woolwich both specifically build to rent
• Property investor are continuing to see a lot of value in Crossrail locations.
Chiltern Relocation were buoyed by the optimism surrounding future investment and that property investors are taking a 10 year view when looking at projects. Although a huge amount of uncertainty surrounds BREXIT and sentiment regarding Article 50 is very mixed at this stage; it is a relief to know this is not the primary concern regarding future growth and that many other drivers are in place to secure the success of UK property.
For more details regarding the survey and the full results please click here.