Making economic and property market predictions in the midst of a pandemic, and during a protracted trade negotiation that half the country sees as a damage limitation exercise and half sees as a liberating transformational opportunity, seems foolhardy at best. Nevertheless, we have given it our best to foresee the unforeseeable subject to assumptions that are posted in page one. Some of our predictions include:
- No double dip recession
- Investment volumes to top £60 billion
- Property pricing stable with prime seeing further modest yield compression
- Occupier markets weak in H1 with greater stability in H2
The remarkable feature of the economy and property market is its relative stability despite massive dislocations in the operating environment. The economy is propped up, of course, by massive fiscal and monetary stimulus globally and property markets are propped up by the massive weight of global capital in search of yield. This shapes our views for 2021.