If only I had a crystal ball

Quarterly property bulletins

November 2022

Having ridden out the three previous recessions, lead director, Chris Price MRICS considers the current climate  and looks to the future,  giving his predictions of what is likely to happen in the property market over the next 24 months

Property recessions tend to appear every 15 or so years; early 1980’s, 1990,s 2008/2009, 2022/2023 so it should be no surprise that we are in for another downturn.

While at the beginning of a recession it is difficult to predict the extent of the downturn this has more of the feel of the 1990’s recession rather than 2008/2009. In March 1991 UK interest rates were at 12% whereas in March 2009 these had fallen to 0.5%.

With inflation running at 10% * plus interest rates rising this will have a significant effect on property values across all sectors.

* as at November 2022

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Read Chris’s latest predictions here

Chris Price is lead director at PACT Property & Assets Ltd
with more than 30 years experience in the property sector

E: chris.price@pactproperty.co.uk
T: 0117 456 8775
M: 07979 541215