It's sometimes difficult to establish the real health
of our sector. For every good news story or research report you read
there are three bad ones, but that's because consumers much prefer bad news
to good isn't it? [if you are supremely positive and only want to consume good
news then take a look at the Good News Network.
Maybe, or maybe it's a sign that the health of the
market is still unclear and recovery is inconsistent. So what have we learnt
over the past week? Well, Savills predicted that over £120bn of
property stock will have to be refinanced by 2012, leading to a
rise in forced sales. Good or bad? Clearly this depends on whether you're the
seller or potential purchaser. Either way as we've been saying for a while the
key to improved asset performance is effective partnerships, with retailers
and local authorities, a good understanding of consumer preferences
and identifying, and then delivering, asset management
Good news from Colliers' latest Property Pricing
Survey, concluding that retail investment is the preferred asset class for
investors, as is a positive expectation of improved rental growth over 2011.
Bad news too though, in that this rental growth is still not
moving into positive territory until 2012.
What about the continuing CVA activity?
Good or bad? JJB succeeds,
where Oddbins fails and the
Officers Club simply
calls it a day. The CVAs agreed will no doubt save jobs in the short term, but
it's not always obvious that they are a long term sustainable solution.
One thing is for sure - the very bad
news. Today marks the day when almost all empty retail properties have to
pay 100% rates after 3 months; a huge barrier to our sector's
ability to support private sector led economic growth which we will
continue to fight against.