IM Properties' Managing Director was keynote speaker at Lodders' record-breaking event
PUBLISHED: 14:29 19 December 2017 | UPDATED: 14:59 19 December 2017
The MD of IM Properties Plc Tim Wooldridge was keynote speaker at law firm Lodders' annual property seminar, which attracted a record-breaking 150 delegates from the Midlands' property and real estate sectors
Speaking at the event at Henley in Arden Golf Club, Tim Wooldridge shared his views on what will drive the shape of the UK’s real estate sector:
“How we look to the future and anticipate change that will affect real estate and the way we manage and develop properties, must be based on four key themes,” he said.
“Technology is top of the list and is what is really driving change today and will continue to do so. Real Estate must remain responsive to this.
“E-commerce is already a major influencer behind the shift in warehouse technology, and we must remain watchful of how we make buildings like these work to respond to the changing, demanding supply chain, and evolving buying habits and needs of the modern day consumer.
“The third trend will be the evolution of and advances in the automotive sector, especially driverless and electric cars, and finally, the global market, international money and the worldwide economic stage will each continue to play a part.
“There’s more change to come,” he said, “and we must all embrace and take advantage of it.”
Also speaking at the event was Dr Lucy Greenwood of Savills residential research team, who explained that the recent growth of the UK housing market is set to stall.
According to the findings of Savills’ research, house prices have grown by 28% since 2012, but this is set to slow:
“As affordability is stretched, concerns around Brexit gather pace and in the wake of interest rate changes by the Monetary Policy Committee, Savills expect UK house prices to grow by just 14% over the next 5 years,” she explained.
“Our research indicates that major housebuilders are in good health, whilst small housebuilders have acquired 89% more plots than in 2016, and medium housebuilders 22% more plots.
“The region is forecast to perform in line with the UK average in the next five years, with prices in both the West and East Midlands predicted to grow by 14.8%,” she said.
For more information about Lodders, visit the website here.