Conclusions

The lack of finance for development schemes means that only those with institutional backing are likely to proceed. The lack of finance for property investment means that only those with substantial cash to complement any loans will be able to operate in the market. The fact that values are probably falling is an incentive and it will certainly help to maintain a market of sorts, but commercial property is an area for those who absolutely have to occupy or for those investors with real knowledge. We need hardly add that any foray into the market should not be undertaken without the best of advice.