Knight Frank says Autumn Statement ‘offers opportunities’ for the real estate sector

Today’s Autumn Statement by the Chancellor of the Exchequer, Jeremy Hunt came with much anticipation following the chaos created by the disastrous mini budget in September.  We’ve been hearing different views from business, property and finance leaders. 

Will Matthews, Head of UK Commercial Research for Knight Frank said today’s Autumn Statement presents two potential opportunity areas for the real estate sector:

“This was always going to be a statement full of difficult compromises, but it leads to two potential opportunity areas for the real estate sector, one practical and one structural.  Firstly, as government departments come under even greater financial pressure, there will be an added incentive to release assets or sites for sale or redevelopment.

“Secondly, although the government recommitted to a number of investment projects and growth in capital spending, there will also be a growing role for the private sector to drive economic, technological and social infrastructure, should it wish to.  Is that an attractive proposition?  The real estate sector’s contribution to the success of UK life sciences, health care, education, data centres and countless other areas suggests that for the right opportunity, it certainly can be.”