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Richard Cherry, Ian Simpson and I joined around 20,000 other delegates at MIPIM last week in what proved to be an extremely useful, interesting, but tiring few days.

The three clear messages from MIPIM and the Budget of no surprises - by Michael Hill

Perhaps it was the backdrop of a sun-drenched French Riviera but we all came back in a very positive mood and, as far as our London and the South East activities are concerned there were three very clear messages.

  1. London is clearly one of the world’s property hotspots – the London Pavilion was packed and buzzing throughout our stay.  We sponsored Ealing and Enfield Councils’ stands so we saw at first-hand how much interest there is in both the residential and commercial sectors.
  2. Secondly, local authorities are very much ‘back in town’ with an ever increasing number either intending to develop themselves, or take a much more proactive role in the development process. We welcome this; we believe it represents a huge opportunity for us to extend a partnering based relationship with local authorities that dates back to the early 1980s, but it also will challenge us to develop new partnership based models that enable the local authority to maximise its returns.
  3. Whilst everyone is expecting the London residential market to slow down there was little consensus as to when and by how much other than to say that the mood was more pessimistic amongst those braving the breakfast seminars and more optimistic amongst those frequenting the water-front bars after midnight!

And so, back to England and the Budget. There were very few surprises but it generally represented good news for the housebuilding sector, particularly the extension of Help to Buy to 2020, financial support for estate regeneration with two schemes on which we are involved – Grahame Park in Barnet and Blackwall Reach in Tower Hamlets – specifically mentioned, and funding for an extension of the Gospel Oak to Barking railway line into Barking Reach.

For those of us working in London concerns expressed at MIPIM about an over-heating of house prices were reflected in the Chancellor’s statement that he has asked the Financial Policy Committee to be particularly vigilant against the emergence of potential risks in the housing market.

What are your thoughts on the Budget?

Michael Hill

New Business Director

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About this blog

Here you’ll find property related blog articles from the team at Countryside as well as independent experts. Expect regular tips and advice on topics such as buying a new home, interior and landscape design, setting up home, mortgages and finance, plus articles on architecture, the property market, regeneration and more.

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