Pictured at the Forum were from left: Paul Dudley Smith, Aitchison Raffety, Rachel Nutt, MacIntyre Hudson, Stuart Wright, Lloyds TSB, Sara Evans, Franklins Solicitors and Adam Chester, Lloyds TSB. |
The event brought together over 100 businessmen and women, all with an interest in property, from across the region to hear the bank’s view on the economic outlook and how it could affect the property market locally.
Jon Pulford. Area Director, Lloyds TSB Commercial said: “I was pleased to see such a strong turnout which shows that property businesses in Milton Keynes are working together to do what they can to bring some life back into the market. We have seen the desire to develop and build is strong. Investors and developers should remember that funding is available for viable businesses and it is important never to assume you will be unable to secure the financial support you need.”
Adam Chester, Head of UK Economic Research for Lloyds TSB commented: “although the global recovery is expected to continue, the advanced economies still face some major challenges. Many countries are continuing to work through high levels of public and private sector debt at a time when business and consumer confidence remains fragile. Moreover, the extreme uncertainty about the prospects in the eurozone – the UK’s major trading region – poses a continued downside risk.
“The outlook for UK property remains clouded by the degree of economic uncertainty. It seems that residential property values are no longer stretched, but the commercial property market is vulnerable to slower rental growth and weak business investment. A fall in inflation which is looking likely in 2012 should help stimulate growth.”
In addition to Aitchison Raffety, the Forum was supported by accountants MacIntyre Hudson and Franklin solicitors as well as the National Landlords Association, RICS and Willis Insurance Brokers who are all working together to get the sector back on its feet.
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