GUEST ARTICLE: Property Market Trends and Insights 2024

9 Feb 2024 Tom Jansons, Development Director at Jansons Property, provides predictions for 2024 from a property market trends and insights perspective…

“It’s becoming a cliché that every year begins with experts expounding the uncertainty of the real estate market in the coming twelve months. But with 2024 looking like a transitional year politically and economically, it goes without saying that these changes will feed into our industry. And – cliched as it may be – 2024 is, undeniably, going to be another uncertain year.

We left 2023 on shaky ground, quagmired in a greater economic downturn, with plummeting volumes of commercial real estate investment, which saw a decade low that year. While 2024 looks like it will offer the opportunity to rebuild the industry on more solid ground, there are definitely big changes ahead.

It’s tricky to offer precise predictions in an environment that is inherently unstable – politically, geopolitically and economically – but perhaps by focusing on the trends and patterns we can confidently see coming, we’ll be able to orient ourselves for the year ahead.

‘Industry-wide’ will no longer apply

2024 will be the year when ‘industry-wide’ pronouncements will no longer apply. If you haven’t yet come across the terms ‘bifurcation’ or ‘trifurcation’ applied to our sector, then brace yourself as they look set to become the buzzwords of the year.

In regard to the real estate industry, bifurcation refers to a division or split in industry trends. This division can manifest in different ways from the divergence of property values, market conditions or investment opportunities. For example, a bifurcation where certain segments see a decline in demand while other areas remain relatively stable. This creates a split or divergence in the performance of different market segments and it’s only through awareness of the

The original article can be found here

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