Hampshire financial businesses debate future of the property market (From Hampshire Chronicle)

Hampshire financial businesses debate future of the property market

1:20pm Tuesday 31st January 2012 in Winchester

THE financial sector came out in force in Winchester last week to debate the future of the property market.

Property advisors Christie & Co invited financial businesses from around Hampshire to an annual networking event examining the market for 2012.

The company launched their 2012 Business Outlook, revealing property prices had fallen across the board last year by around 2.5 per cent.

The average price movements across the sectors saw a 1.1 per cent decline in the pubs sector, 3.3 per cent in care, 3.6 per cent in convenience retail, 4.1 per cent in restaurants and 5.1 per cent in hotels.

But in spite of the decrease, Christie & Co said there were reasons to be optimistic, particularly because the number of transactions between businesses is still high.

Ed Belfield, director and location manager for Christie's Winchester branch, said: “One of the positive signs of 2011 was maintaining the level of market activity in terms of transactions and owner/operators looking to sell. The number of people looking to sell is really quite positive.

“The market will remain cautious but transactions should remain steady.”

Of this year's event at Winchester Cathedral Café, Mr Belfield said: “It's gone very well and we have had our highest turnout ever. I think that's symptomatic of the amount of professionals out there looking to gleam more market knowledge.”