Mike Woolliscroft
Thankfully, the outlook for property is far more positive now than it was then. Measures to suppress contraction of the market, mainly through business support schemes, the stamp duty holiday and extensions to Help to Buy, are working.
The fundamental need for high-quality housing remains extremely high, but Covid has put a spotlight on other challenges.
Clearly, we are entering a long period of economic recovery that calls for greater focus on what can be achieved through development, especially in regeneration projects. This is not new, but it is far from simple.
Timing is a factor; the backdrop to development is evolving quickly, not least because of the important drive towards net zero carbon. Residents’ expectations are also changing, as are requirements on and of building owners; new grant conditions are coming into place and there is significant regulatory change. Project economics are therefore becoming more complicated.
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