If only I had a crystal ball
Quarterly property bulletins
ISSUE 2: (Q4-2022)
March 2023
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
While we have avoided a ‘technical’ recession, the mini budget of 23 September sent shivers through the property investment market and the recent failure of SVB and Credit Suisse will not have helped to calm nerves.
Transaction volumes for Q4 2022 were at their lowest since Q2 2020 with offices being the hardest hit. There has been a significant turnaround into negative territory in the logistics and warehousing market which largely reflects current economic conditions.
The market is likely to remain volatile for the remainder of 2023 while we all get used to the norm of higher interest rates.
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Read Chris’s latest predictions here
Read previous issues 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