Richard Carr, a Commercial and Residential Development specialist, looks at how the recent oil price fall will impact upon the property industry.
Winners and losers
With prices dropping as low as £33 a barrel, the collapse in oil prices has reshaped the world’s economy, but who is winning and losing?
For the general public, the electronic signs outside petrol stations over the past few months have been a big win. As a result, the oil crash is expected to boost spending power and as a by-product, house purchases.
Rate of inflation in the UK has reduced over the past few months, which could make real estate more attractive to investors thank to its good cash flow potential.
On the flip-side, there are fears that those investors who rely on an oil-based income could pull back from spending in the UK.