Savills’ optimistic outlook for UK real estate performance in the coming year has also been influenced by expectations of further interest rate cuts.
James Gulliford, Savills Joint Head of UK investment, said: “The 40-year high of inflation has passed, and most forecasters are predicting around 100 basis points of base rate cuts from now until the end of 2025. Both of these are good news for land and property occupiers and landlords and should bring increased levels of transactional activity in many markets.
“However, the new Government stuck its policy flag in the ground with the Budget, and while higher taxes to support public spending were never going to be a surprise, the details of this have been enough to cool some of our forward views a little. Overall, however, our outlook for 2025 and beyond is more positive than it was 12 months ago with more income and capital value growth on offer in most sectors. ”
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