Our easily digestible video, presented by our Head of Research, Daniel Francis, considers employment levels, development activity, investment performance and more. Within the piece, we contrast the data of past years, decades, and downturns to assess the challenges the core commercial sectors are facing today.
Local authority investment in commercial property is under threat for a number of reasons. Also, at the same time the COVID-19 crisis is fuelling concerns around the loss of rental income and falling capital values. Against this backdrop, we look at how councils should respond.
This month we saw the lowest-ever reported decline in GDP during April, but the more timely measures during May and the early weeks of June show an economy trying to gradually climb out of the April trough, as lockdown restrictions begin to gradually ease.
This month we find that house prices are still growing, despite the COVID crisis and lockdown, albeit the pace of growth has slowed. We also find that demand and enquiry levels are surging at our office locations, and more broadly in the wider housing market.
While we applaud the planning industry for its flexibility and willingness to meet new challenges inflicted by COVID-19, we also recognise that the Government should take immediate action to impose new legislation which will aid processes. Within this article, we have outlined our thoughts on what those actions should be.