First, I hope the impact of Brexit is contained as much as possible.
Second, I hope that residential values in central London hold up and do not start to impact the wider domestic market. Third, I hope US-China trade battle ends before its effect on other countries, including the UK, becomes too acute. The residential market will be under a great deal of pressure for at least six months after Brexit.
The student accommodation market will remain sound due to the robustness and reputation of the UK’s universities, but there will be more mergers as the lack of EU funding for research pushes them to rationalise. The government’s agenda will mean the focus will be firmly on affordable housing and community-focused developers will see new opportunities to work in partnership with the public sector to regenerate public land.
Resolution: To stay vigilant and focus on sectors and projects with strong underlying fundamentals, limiting our exposure. That said, we intend to continue to focus on innovation, speeding up project delivery through tactics such as modular construction. We also aim to demonstrate how we can help local authorities through strong partnerships, innovative solutions and creating places that improve local communities’ quality of life.
Nicolas Guérin, managing director at Linkcity
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2019 forecasts: what lies ahead
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2019 forecast: Nicolas Guérin (Linkcity)