The UK Economy is on the Mend – A Time to Buy?
29th September 2010
Recovery is Under Way
According to a report issued by no less a body than the International Monetary Fund (IMF), the UK economy is on the mend and “recovery is under way”. In its annual health check on the British economy, the IMF backed the Government’s austerity measures designed to tackle the national deficit, calling Chancellor George Osborne’s plans “credible” and “essential”. The body also predicted economic growth of 2% in 2011 and believe that the rate of inflation would fall back to its 2% target by early 2012.
On a local level we are seeing an improvement in the market; enquiry levels have increased sharply following the traditional summer lull and a number of the Banks are now actively seeking opportunities to lend money on commercial property purchases. It is therefore an ideal time for owner occupiers to take advantage of the value in the market as prices will inevitably start to increase as a consequence of a lack of supply, given the long lead time that developers have to tackle in bringing new product to the market. Indeed, we are actively looking on behalf of a number of clients keen to buy premises and we have had success in unearthing opportunities that are not even on the market.
If NG can help your business to grow, please call and ask to speak with the Agency Team.