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New Year brought in on a wave of increased confidence | 13 January 2014

This year is being welcomed with more optimism among those in the North East property industry than any other in the last seven years, bdaily.co.uk reports.

Following on from positive figures released by the Land Registry, New Year 2014 has seen optimism reach levels not seen since the beginning of 2007. Back then, property prices had been increasing across the North East by two per cent per month. Since then, of course, the financial crash hit and each New Year brought with it fears of more bad news to come.

Now, with much of the insecurity thought to have been passed, property professionals are feeling much more optimistic. As such, they are happier as 2013 turned into 2014 than at any other New Year since 2007.

Among them is Bill Naylor from Naylors Chartered Surveyors, who told thejournal.co.uk that it may not only be those who are actually within the property sector which welcome this good news.

Instead, Naylor claimed that the commercial property market was a good barometer for many others, meaning that positive results within the sector may also be an indicator of similar optimism elsewhere.

“Seven years on and a lot of pain later, it was becoming clear at the end of last year that at last, prices were on the up, and I anticipate that this will continue in the coming year.

“A steady sustainable increase in housing values is always good news for business and the commercial property sector generally, because it’s such a powerful barometer of overall confidence. For commercial property, a better housing market always rubs off positively.”

The views expressed in this post are those of the author and are not necessarily those of Qube Global Software. All facts are verified where possible directly by the author.

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