Property View: 2014 – An Air of Cautious Optimism
If I look back to April of last year when I addressed The Place AGM on the ‘North West Property Market’, the general feeling was of a ‘glass half empty’ with the ability to secure funding difficult at best.
The latter half of the year has not been without its issues, with the problems experienced at Co-op Bank and continued de-leveraging of the property books at NAB and the Irish banks leaving many borrowers in an uncertain position.
However, throughout the last quarter of 2013 and going into 2014 I do believe there is an air of cautious optimism amongst many North West property companies and developers – a view which, importantly, is being shared by agents and indeed funders.
This optimism is manifesting itself through a variety of indicators:
In terms of funding, the floodgates are certainly not open but I would be confident in saying the attitude is more ‘glass half full’ as we move into the new year. Property fundamentals remain important along with presentation.
If you would like to discuss your property finance plans for 2014 and how we may assist, whether this is for refinancing / restructuring or new transactions, we would be delighted to hear from you.
Contact our property finance expert Dave Rainford on 07794 490 682 for a chat.
The information was correct at time of publishing but may now be out of date.