With the Chancellor’s announcement today predicting an on-going upturn in economic growth, it seems George Osborne has ensured continued inward investment into the country’s real estate.
Commenting on the impact on regional real estate of today’s Autumn Statement, Andy Pyle, UK Head of Real Estate for KPMG, said:
“With the Chancellor’s announcement today predicting an on-going upturn in economic growth, it seems George Osborne has ensured continued inward investment into the country’s real estate.
“Specifically, we can expect an increase in investment into our regions, with figures announced showing that job creation in some UK regions exceeds that of the capital, and the announcement of further devolved powers for larger regions and cities. That the devolution announcement allows local authorities to have full control of their business rates and lets them keep and reinvest receipts from housing stock sold, only adds to the appeal of regional real estate investment, as does increased investment into regional transport infrastructure.
“In terms of assets, we are likely to see investment in offices and commercial property, but also into residential property as we see professionals keen to live near to where they work. We know investors are actively looking for better value investments outside of London, so today’s budget is a win-win for regional real estate.”
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