COVID-19 will shape the property sector for many years to come.
Bruceshaw () examines the macro and micro economic challenges that will shape the property sector as we emerge from the COVID-19 pandemic.
Commenting on the paper, Bruceshaw’s Managing Director, Rennie Dalrymple says, “Will there be a different view on what the UK needs to provide for itself and a review so that we are potentially not as reliant on getting products, materials and services from quite as many countries as we have been? Questions may be raised about how far globalization has gone and whether it needs to be reined in a little.”
“When it comes to resilience, if you stick your head in the sand, then you’re going to be in difficulty. But if you know it’s coming you can positively manage your business, be creative in delivering work, finding ways to be more efficient and productive so that you can trade through the cycle,” says Paul Body, Director, Bruceshaw.
“Well-run businesses with strong balance sheets and good governance should have a head start in riding out this storm but those who don’t will undoubtedly have a tougher time. While lockdown may well accelerate the demise of weaker businesses and slow down development, the silver lining is that necessity speeds and breeds invention,” continues Body.
“We should and could come out of this looking at better, more efficient ways of doing things using modern methods of construction, robotics and digital technology etc. It may also be an opportunity to streamline the planning process – making development efficient from start to finish.”