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Property Snapshot October 2020

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23 01 20 capital markets

The economy continues to recover from the record decline in GDP in April, according to latest statistics from the Office for National Statistics suggesting growth of 2.1% in August. This is weaker than expected and slower than the 6.4% rate recorded in July. The size of the UK economy remains 9.2% below its pre-Covid level. Nonetheless, Q3 figures (12 November release) will show the UK is ‘technically’ out of recession and the government remains committed to supporting businesses and protecting jobs as outlined in its ‘winter economic plan’. The package includes a new Jobs Support Scheme, an extension to the 15% VAT cut for the hospitality and tourism sectors, and help for businesses in repaying government-backed loans.

In this month’s property snapshot, we highlight -

  • Monthly investment volumes rise from August’s £1.3bn to six-month high of £3.2bn
  • The first week of October has seen transactions worth £1.7bn, suggesting that momentum is building further
  • PRS remains in high demand, with over £650m transacted in September
  • Industrial take-up will reach a new record high in 2020

23 01 20 Capital Markets search

Property Snapshot October 2020

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Related Experts

Oliver Kolodseike

Director of Economics and Research

Research and Forecasting

London - West End

Oliver is Head of Economic Research and leads the quarterly UK forecasting process including the publication of Colliers' Real Estate Investment Forecasts (REIF) report. He also  authors the monthly Property Snapshot and, quarterly Scotland Snapshot. Prior to joining Colliers, he worked for the Centre for Economics and Business Research and IHS Markit. Oliver holds a BA in Economics from  Georg-August University Göttingen (Germany) and an MSc in Economics from Exeter University.

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