MARKET UPDATE Current Mood.

In real estate we often use analogies to express the mood of the market. The best description we have is that an economic tsunami has hit our shores and there will be ramifications for the commercial property market.

With the rise of interest rates effectively tripling the monthly loan repayment together with significant increases in construction costs, statutory charges and other deliverables, the investment criteria and project feasibility metrics have forever changed.

More than ever, commercial property owners require experienced feedback (without panic) and bespoke strategies that will help navigate through these uncertain times. Decisions are taking longer – whether looking to lease or make an offer to buy, the timeframes have doubled.

So as the second wave of the economic tsunami (where the water rushes back to the ocean) is where the unknown exists. Unfortunately, there will be casualties along the way and then we will settle under a new market normality.

In the meantime, it is our Teams desire to continue to help you through this period with the right balance of professional advice based on over 40 years combined experience and an enthusiasm to push harder.

We look forward to connecting soon.

Kind Regards,

FRED NUCARA MANAGING DIRECTOR