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Since August 2012, property prices have been on the rise, with market optimism reflecting the enhanced mood within the industry. However, there are some within the property world that believe that the market will no longer improve at the rates seen over the last couple of years, as Fraser Williams of Morgan Pryce notes,
“The last couple of years has seen the property market really perform to a high level, post-recession. This inevitably had to come to an end at some point, however this doesn’t mean we will see a decline – more of a plateauing. It really shows the strength and stability of the real estate sector.”
Varying factors have had an impact on the shift in confidence. An increase in overseas investment has impacted on funds, advisors and investors and where they are looking to invest. Furthermore, political impacts can also have an effect on market confidence. Oliver Salter at Morgan Pryce agrees,
“The Scottish referendum showed how political uncertainty can affect all types of industries, property included. The upcoming general election and increase in interest rates that are on the horizon will no doubt have an impact on the outlook of many real estate firms. All of these factors will have some sort of effect on investment strategies.”
The coming year could see a further shift in market optimism, it will be interesting to see how political issues impact the real estate industry.
This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.