Tom Castro Top 5 Takeaways From 2023

Published: 28/12/2023

My 5 key influences on the SME commercial & development market in 2023:

🚩Interest rates
 - Rates go up, buyers need more out of their investments
 - Fewer people in the market to buy, so less competition
 - Less action in the market for agents
 - It's as simple as that

🚩Help to Buy
 - Love it or hate it, it encouraged developers to develop
 - Taken out of the market in April 2023
 - Apparently an alternative to be proposed in 2024

🚩Globel unrest
 - With high levels of market uncertainty post Covid already, wars and global unrest only adds to the uncertainty
 - More uncertainty means less appetite to invest

🚩Death of the high street......(or is it?)
 - M&Co, Wilko and Paperchase all fell into administration in 2023
 - Adding to those who went the same way in 2021 and 2022
 - I firmly believe some very smart people will spot an opportunity on the High Street and make a fortune over the next 5-10 years
 - The fundamentals of centralised shopping and leisure districts has existed for thousands of years - this isn't going anywhere.

🚩Energy Performance
 - Lots of clients uncertain about what this all means and what it means for them
 - We're having to sharpen our knowledge internally to help answer the questions
 - Lots of information out there for the funds and large Zone 1 office owners, not so much accessible information out there for the shop keepers and hairdressers

Commercial Property, Expertly Done