Banner 2. Covid 19

Leading UK property funds gate amid coronavirus woes

02/04/2020

 

By Robert Hillman


We have all read interesting and fast moving articles on the current Covid 19 outbreak and what effect this will have on us. For my part this is the third major property market turmoil of my working career. I’ll be using this time to review, reflect and then move forward with positive change.

But quite what shape will we all come if out of this and when that will be is not something I will (or can) predict.  There are plenty in the currency and financial markets making bets on this and not everyone will be right.

What those of us in the property and construction industries can be sure of is that everyone is in it together. And this does differ substantially from past market down turns.

One thing that has stood the test of time, and was first said to me when I joined Watts over 25 years ago, is that property is an illiquid asset class. No matter what changes we see in the short to medium term on the back of the Coronavirus outbreak this remains true.  Short term, or newer investors looking to quickly get out, are likely to have to take a significant financial hit. In doing so, opportunities will be out there for those who have repurposing plans, or stuck to the traditional long term game and remain committed to prime asset classes.

I for one look forward to that and to Watts playing a part in how we can assist people on the other side.

Full Article: https://www.propertyweek.com/finance/leading-uk-property-funds-gate-amid-coronavirus-woes/5106895.article - by Sally Hickey

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