State of Midlands property market to be revealed by major report
Property agent Innes England is set to reveal the results of its annual Market Insite report.
The report reviews the major deals of last year’s commercial property market in the Midlands and looks ahead at the emerging trends the industry can expect for the year ahead.
For the first time since 2019, the event will be held in-person at four key Midlands locations – Birmingham, Nottingham, Derby, and Leicester – where the findings for those cities and the region will be presented by Innes England experts and several guest speakers.
The Innes England Market Insite 2024 report with the full findings and research will be available at the events and published online shortly after. The report will examine the latest developments, property trends and opportunities presented across commercial property sectors including office, industrial, retail and investment markets.
Last year’s Market Insite, held as an online webinar, revealed the extent of the impact rising interest rates had inflicted on the sector.
It revealed while total investment volume in the region was only £1.356 billion in 2022 – significantly down and nearly half (44%) of the previous year’s record-breaking volume, the figure was only slightly down (11.5%) on the five-year rolling average and just 6.75% down on the ten-year rolling average.
Matt Hannah, managing director at Innes England, said: “We’re excited to be bringing back Market Insite 2024 as in-person events. For the first time in four years attendees will be able to enjoy coming together to network and discuss the findings of the reports with other like-minded professionals.
“Last year saw the sector reacting to the impact of rapidly rising interest rates and consequently we saw a downturn on investment transactions. The data for 2023 will highlight surprises, encouraging results, and concerns.”
Speakers will include directors Peter Doleman discussing industrial and distribution trends, Ben Robinson analysing investment, Craig Straw overseeing the office sector, Adam Rock evaluating the West Midlands, as well as Sam Hall discussing roadside and retail. Director Nick Hosking will also be speaking on the Derby Market and Matt Howson will feedback on current experiences from the 1,500 tenants we manage in the market.
Guest speaker at Market Insite events in Nottingham, Birmingham, and Leicester is economist Mark Berrisford-Smith.
He said: “It’s great to be a part of Market Insite 2024 and I’m looking forward to be speaking Immensely. Although there are many uncertainties, not least the military situation in the Red Sea, the ongoing financial and real estate crisis in China, and a potential second term as President for Donald Trump, in many respects the immediate economic outlook looks less fraught than it did a year ago. I’m keen to discuss what it will take to get the UK’s economy growing again, and also how long it will be before the Bank of England starts to cut interest rates.”
Market Insite Derby will hear a talk from director of policy and insights at East Midlands Chamber of Commerce, Chris Hobson.
He said: “I’m excited to be speaking at Market Insite 2024. It’s a great platform where the interesting trends in commercial property are dived into, explored, and understood. I’m really looking forward to meeting and hearing the views of the many industry professionals attending on the day.”
