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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