Despite being a remainer, I would like an orderly departure from the European Union.
I hope the certainty departure might bring will result in a revival of the London and the South East residential property markets. It would also be good to see a temporary cut in stamp duty on higher value properties, to breathe life into that market. I expect to see a soft Brexit, as few UK politicians are calling for a hard deal. Nevertheless, a cautious start to the year is likely, with lenders chasing safer deals and borrowers waiting for clarity to progress. Once people get used to the new normal, the flood gates will open to activity that had previously been delayed. We expect that whatever the result, there will be significant pressure in construction costs both as a result of a weakening pound and the movement of labour.
Resolution: To build and release an app that will open us up to becoming more ‘proptech’ than we ever have done before. We will always remain more ‘prop’ than ‘tech’, but the introduction of the app will help streamline our processes and ensure complete transparency with our borrowers and brokers. Personally, I would like to diversify my proptech investment portfolio, do a 25-mile cycling time trial in under an hour and read 25 books this year.
Michael Dean, principal co-founder of Avamore Capital
2019 forecasts: what lies ahead
- Currently reading
2019 forecast: Michael Dean (Avamore Capital)