It’s that time of year, when Business Link Magazine invites the region’s business leaders to offer up their predictions for the year ahead.
It has become something of a tradition, given that we’ve been doing this now for over 30 years.
Here we speak to Richard Sutton, MD at NG Chartered Surveyors.
Looking at 2024 as a whole and with inflation seemingly under control, I’d put confidence in a more positive year ahead market-wise – particularly if, as is predicted (and somewhat hoped) interest rates start to come down. However, with a potential general election ahead, noticeable growth is unfortunately likely to be impacted until a result is known.If inflation stays under control after a slow start to 2024 I predict the middle two quarters will be solid – very much like 2018 trading conditions. In the commercial property world, opportunities are still scarce but there is still a willingness out there to do deals.The office market still needs to make its mind up and, to be honest, it’s about time more people came back to the office.As the phrase goes: “use it or lose it.”I also think there will be a big trend from solicitors and accountants moving from landmark buildings with massive cost implications to high-end serviced office space.
