Latest letters
Retail sector concerns are overblown
Editor: The 3.9% drop revealed in the latest Office for National Statistics retail sales volume report for non-food stores sparked panic in the headlines. Commentators and analysts rushed to outline the chaos on the high streets, with doom-mongering soundbites and accelerated calls for Bank of England rate cuts.
Will the Budget bring clarity on stamp duty reliefs?
Editor: Speculation is already rife about the possibility of tax cuts in the Spring Budget. So far, income tax and inheritance tax have been the focus, but from a property perspective, possible reductions in the headline stamp duty land tax (SDLT) rates remain a popular theme.
Asset managers need the right tools to maintain quality offices
I agree with the trepidation expressed in Property Week’s recent article ‘Storm clouds are gathering over the office market’.
Net zero progress is moving far too slowly
I found the recent UKGBC and RICS reports, released on Built Environment Day at COP28, to be apt testaments to the current state and sentiment for net zero in the industry.
Don’t forget affordable later living
Increased investment in affordable homes has made for welcome reading recently, including Pension Insurance Corporation (PIC) launching its first affordable housing investment to back London Square Group and Square Roots.
Which sectors will debt providers be backing in 2024?
Editor: While the lead-up to the autumn election will perhaps hinder progress, we are likely to see a boost in productivity in Q4 alongside a fall in interest rates.
Housing: will the government wake up?
It’s no secret that housing and homelessness are at the top of many local authority (LA) agendas. The unprecedented spike in the use of temporary accommodation (TA), at a cost of £1.7bn last year, is driving a coach and horses through many local budgets.
Flexible workspace is a key pillar of the office sector
In the commercial real estate sector at least, the past few months have been dominated by WeWork. Its US bankruptcy has cast a long shadow over the sector – or at least that’s what some headlines suggest.
Embrace AI to tackle sustainability
Editor: In his Autumn Statement, chancellor Jeremy Hunt announced plans for £500m in funding for artificial intelligence (AI) initiatives, including important safety and security measures.
No sign of much-needed funds for school building
Editor: It was notable that there was no additional funding for schools in the chancellor’s Autumn Statement, despite the continuing deterioration of the estate and issues with reinforced autoclaved aerated concrete (RAAC).
Staircase law: do your due diligence
Editor: In your recent build-to-rent (BTR) report, the requirement for new-build residential buildings over 18m to have a second staircase was presented as a challenge for developers and another hurdle to overcome, but perhaps not a deal-breaker.
WeWork woes do not reflect flex market sentiment
Editor: By the time WeWork officially filed for bankruptcy last month, it had started to feel like old news. The drip-feeding of WeWork’s woes over the past six months had already prepared the market for the inevitable.
