Knight Frank have launched their latest commercial outlook.
You can download a copy of the report here: Market Outlook Jan 13.
Writing in the review, the firm say: “We view 2013 as a year in which the rules of the game of property investment are about to shift.
“2012 was mostly about caution – prime and London were in, secondary and regional were out.
A shift in a attitude towards risk is occurring as certain systemic economic threats have failed
to materialise – the Euro has held together, the US did not go over the fiscal cliff – and
investors are again looking beyond the safe havens for opportunities.
“Nevertheless, the economy is lacking that big new game changer that could drive a rebound,
the way the internet did in the mid-1990s, and as China and easy debt did in 2005-2006. Given
both these booms ended in busts, perhaps we would be better off it is just a gradual recovery
not a rebound. A slow recovery is the more probable forecast, so we would direct investors to
seek the pockets of opportunity. They are out there, from Midtown offices, to CBD coffee
shops, to light industrial units let to local firms with long track records.”