Businesses can look forward to a period of increasing confidence entering 2018, according to the Business Outlook 2018 report by specialist business property adviser, Christie & Co.
In its latest report, Christie & Co identifies the sectors that benefited from activity fuelled, in part, by the availability of finance and a surge of investors – many from outside the UK – looking for good opportunities and strong returns.
The continued uncertainty surrounding Brexit has made its impact across all sectors, but the UK has also welcomed a spike in tourism and a surge of foreign capital into the UK market, it said. Asian investors particularly view the UK as an attractive investment opportunity thanks to the country’s stability and relatively low value of the pound.
Looking forward, Christie & Co remains “increasingly confident” in its sectors. The Business Outlook 2018 report expects further consolidation as pressures on costs continue, but this will prompt a shift towards embracing change, as technology and innovation evolve alongside the UK’s strengthening economy.
Average prices remained economically positive throughout 2017 across almost every sector in which Christie & Co specialises:
Dental: +12.3%
Pharmacy: +8.1%
Care: +6.1%
Childcare: +10.8%
Retail: -0.4%
Pubs: +3.8%
Restaurants: -3.4%
Hotels: +5.8%
Brian Sheldon, regional director, Scotland at Christie & Co said: “Across the UK we are seeing the signs of increasing confidence and economic positivity in almost every sector in which we operate and pipelines continue to grow by double digits as we enter 2018.
“In Scotland, we have witnessed increased activity across all our sectors throughout 2017. While higher inflation and sluggish wage growth are squeezing consumer spending and acting as a drag on the speed of UK growth, and a lack of clarity around Brexit is hampering some investment, there are positives.
“Unemployment is at its lowest rate since 1975, inflation remains low, interest rates are stable and manufacturing growth is strengthening. In short, the economy is recovering and there is still plenty of room for growth.
“Scotland has its unique challenges and growth is slower than the rest of the UK. However, there is real positivity across the market, resulting with some great opportunities becoming available. We are confident 2018 will see further growth in Scotland as confidence increases.
“Within Christie & Co we are embracing change and bolstering our team to capitalise on our expertise to attract and support both new and well-established clients who need help navigating the market, and who want to ensure a high-performing business.”