After two years of unprecedented challenges faced by real estate, experts share their predictions for 2022.
Heng Leong Cheong
Chief executive, EcoWorld London
I expect 2022 to be the year of the partnership for EcoWorld London, as we work more closely than ever with local authorities and our other partners to meet London’s housing needs. I hope that as an industry we collectively realise the importance of working together in not just financial but civic partnerships, where parties share the same values and long-term commitments.
This is something we have always strived for at EcoWorld London. These kinds of civic partnerships necessitate strong levels of engagement with the community and an understanding of what they need.
As such, I also expect to see a growing focus on the ‘S’ in ESG as the industry rightly starts to put social value under the spotlight. I believe those that are flexible and react to the changing market conditions next year have the best chance of future stability and growth.
Sales director, Shawbrook Bank
Within lending, we can expect to see a growing number of green products coming to the market this year.
Net zero is a significant focus for the government in regards to housing, and with the new EPC regulations coming down the track, lenders will be keen to support current and prospective homeowners improve or choose energy-efficient properties.
Technology is likely to be a focus for many lenders in order to support their customers and broker partners. With rates competitive, lenders will be looking for alternative ways to attract customers and improve their experience. In fact, innovation more generally is likely to be a priority across the market, but particularly in niche areas like bridging.
Chief executive, British Property Federation
Property is a long-term sector able to look through the short-term continuing pressures of Covid-19, and 2022 holds many opportunities as the government sets out its levelling-up agenda to transform regional economies. A huge amount of private investment will be necessary, on some estimates close to £2trn – the same cost as the reunification of Germany.
People across the country will want to see tangible examples of the government delivering on its pledge, and that means more affordable homes, revitalised high streets, better infrastructure and job creation. None of this can be achieved without the property industry as one of the government’s key partners and the BPF will be working closely with ministers to unlock investment in town and city centres, and deliver the social infrastructure that will enhance local community life while reducing the carbon footprint of the built environment.
Predictions for 2022: Brace yourself…
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Predictions for 2022: Brace yourself (part eighteen)