Articles and journals across the UK are discussing the increased cost of living and interest rates, and the fact that many schemes and reliefs which were previously available to help individuals and businesses are now being withdrawn. This has resulted in major concerns amongst individuals and businesses.
Axiom DWFM hosted their quarterly Real Estate lunch in June which focused on the current market and where it is headed.
Following Brexit and the pandemic, it was greatly anticipated that there would be a significant loss of business in the UK and that companies would not be given the opportunity to branch out or recover. However, this has not been the case. This year alone there were 59 new lettings in Central London from companies who have not previously been there suggesting that this is a healthy market for companies and investors to enter into with the aims of growing their businesses. Those with an appetite for risk have used this as an opportunity to start new businesses. Land is also now being used to develop new research facilities and sites producing sustainable and renewable energy sources as a result of an ever growing need for such premises in today’s market.
Furthermore, despite the recent increases in interest rates, investors have not been deterred from entering the market and buying properties. Auction companies have seen that they are actually increasing their billings and that most domestic investors are looking to go into commercial real estate in an attempt to preserve their wealth. This is supported by the increasing property prices across the UK.
This trend can also be seen with residential real estate as the average home price in the UK has risen by 9.8% in the last year. The market is growing and our team at Axiom DWFM is glad to be assisting both our domestic and international clients with their property needs, whether this be with beginning their journey into the market or helping them to continue growing their current portfolios.
With the current Help-to-Buy Scheme ending in March 2023, we look forward to helping many first-time buyers exercise the opportunities currently available to them until a replacement is found. Our team of experts and professionals await to see what this will be and how to best help buyers and sellers in their process.
Overall, we have seen that the average investor is hungry, determined and very much able to thrive in today’s market.
