Interest rates to rise by year end


The window to take advantage of the current strong purchasing conditions could be shrinking rapidly. Nick Terry who heads the office purchasing team at DeVono Cresa Property who exclusively represent purchasers of commercial space says, “Our forecasts are that interest rates will make their first upward move before 2010 is out.”

Indeed, Kevin Daly from Goldman Sachs states “With unemployment stable for the past year, growth strong and tax revenues healthy we can build an argument that the MPC should be raising rates already”. He goes on to say that once a rise happens, “Rates could then rise rapidly to 2.5% by the end of next year”.

Ray Barrell of the National Institute of Economic & Social Research goes on to add, “If higher inflation from sterling’s fall persists, the Bank [of England] is going to have to raise [interest] rates”.

As a result, now is the best time in decades for companies to purchase their own offices. With interest rates at an all time low but forecasted to rise in the near future combined with other major factors working to a buyer’s advantage such as suppressed property prices, government pressure on banks to increase lending and favourable pension scheme structures. Will there ever be a better time to invest in a property for your business to occupy?

To help companies take advantage of this historic office purchasing opportunity, DeVono Cresa, the original & leading London office space finders are proud to announce their new groundbreaking office purchasing tool, in the form of the ‘Weekly Freehold List’, which details every London office building to purchase in one simple place. As DeVono Cresa exclusively acts for purchasers they are 100% free from all conflicts of interest normally associated with other property advisors who act for both buyers and sellers of commercial property.

As the property list is free and no other company offers this service, DeVono Cresa are changing the way commercial property opportunities are sourced.

The specialist office purchasing team at DeVono Cresa assist companies in every step of the process starting with finding the property via on and off market sources, arranging viewing tours, securing the best value transaction and providing guidance through the purchasing process.