Ellisons’ Construction and Development Briefing Highlights Cautious Outlook for Region’s Property Market
A new survey of property professionals undertaken at the first Construction and Development Briefing, hosted by Ellisons Solicitors, has shown that 57.4% of respondents are more cautious about the sector now than they were 12 months ago.
Uncertainty surrounding Brexit, concerns that the National Planning Policy Framework is not fit for purpose and demand for homes outstripping supply could all be factors in this cautious outlook.
The Construction and Development Seminar supported these concerns, with expert speakers Karen Syrett, Colchester Borough Council and Peter Brady, Planning Lawyer both sharing thoughts and opinions on the current state of the housing market and planning system.
Despite these issues, an impressive 58.5% of survey respondents stated that the construction of new homes remains a key business driver. When asked about the importance of their firms environmental responsibility, 88.8% of delegates said that they put great emphasis on being sustainable and environmentally responsible (rated from 7 to 10).
It was also recorded that preparations are in place for any potential future downturn, with more than 85% planning or implementing a strategic safeguard.
The event that took place at Weston Homes Community Stadium in Colchester was chaired by Ian Seeley, Associate at Ellisons Solicitors, and was attended by just under 150 delegates from the property development and construction sector.