LEGAL ADVERTISING FEATURE
MEET THE PROPERTY EXPERT
Daniel Hannam , Partner at the Swindon office of Bower Bailey Solicitors shares his insight into the current property market conditions .
Daniel is a specialist in commercial and residential property with over 25 years experience in the sector . Commercially minded , but with a down to earth approach , Daniel is well-known amongst property agents and professionals and has a loyal following for his work .
We met with Daniel to find out how the market is faring so far this year , and to get his predictions on future property trends .
HOW HAS 2022 BEEN FOR RESIDENTIAL AND COMMERCIAL PROPERTY ACTIVITY ? Extremely busy ! The residential market in particular has defied expectations . We were expecting it to slow following the cessation of the last stamp duty holiday in June 2021 , but it didn ’ t really happen .
ARE YOU SEEING A CHANGE / COOLING IN THE PROPERTY MARKET IN RECENT MONTHS ? Not really . Activity may have dipped very slightly but it has been barely perceptible .
HAVE YOU HAD ANY NOTABLE TRANSACTIONS IN THE LAST YEAR ? A number have been quite challenging . A complicated acquisition of an historic retail estate incorporating a number of titles and some very interesting listed buildings , and involving various problematic leases , stands out in my mind .
HAVE YOU SEEN A CHANGE IN RENTS OR PRICES BEING ACHIEVED ACROSS BOTH MARKETS ? The trend has been upward for both , although comparisons for commercial rents can be difficult given the differences in leases and units . I would say residential prices have steadied somewhat over the last few months , but that is just how it ’ s looked to me .
WHAT ARE YOUR PREDICTIONS FROM NOW UNTIL THE END OF THE YEAR ? It ’ s difficult to make predictions . We had been expecting a downturn for several months , but it has not materialised . Many economists seem to think the recent mini-budget turns conventional economic theory on its head . It certainly doesn ’ t make predicting the future any easier ! I suspect markets will remain strong until the end of the year , the residential market in particular , but I wouldn ’ t like to predict any further into the future .
" We had been expecting a downturn for several months , but it has not materialised "
Connect with Daniel on LinkedIn , and to get in touch email : dhannam @ bowerbailey . co . uk or call : 01793 610466
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