Jonathon Seddon’s Forecast on the Commercial Property Market in 2016
4th January 2016
The defining characteristic of the market in 2015 – and one which is likely to continue into 2016 – is the shortage of stock across all commercial property sectors. This lack of supply will inevitably create competition and good quality stock is likely to sell and let at very good prices. As an illustration, we are marketing a scheme of four small industrial units which are in the throes of being built and we’ve got over 100 people keen to acquire one when they become available.
I think that 2016 will see the return of limited speculative development in the industrial sector to capitalise on the shortage of stock, but it’s unlikely we’ll see too many offices being built – unless they are in very strong locations.
As for NG’s fortunes, we have had a great 2015 and all the portents are that this will continue into 2016. One particularly encouraging sign is that, in addition to the work from our long standing clients, we are being increasingly approached by individuals and organisations looking to change from their existing agents which shows that we are doing something right.