Europe

Caddick: “2008 all over again – what a mess”

Caddick Developments director Johnny Caddick has warned of “massive stagnation” in the property sector with the regions most badly affected.

The Yorkshire-based developer tweeted this morning: “2008 all over again. What a mess.”

Speaking about the tweet, he said it was a “potential overreaction”.

But he said: “Uncertainty is the worst thing for property. It creates stagnation.”

He added: “I think following 2008, the regions had a period of 7 or 8 years of recovery or stagnation, and we are just starting to come out of that.

“And I think anything like this creates shockwaves through the marketplace and has massive effects, even more so outside of central London.”

He said he was confident Caddicks’ PRS schemes would be delivered. But he said other sectors such as offices would be more badly impacted.

Other News

Here’s looking at YOO

“Waking up worrying in the middle of the night, feeling like the sky is falling on your head, is a sensation most successful people have… Read more »

E Europe

CC Land’s next big play

When Dickie Wong is in London his phone doesn’t stop ringing. The CC Land deputy chairman, who led the £1.15bn acquisition of the Cheesegrater, EC3,… Read more »

E Europe

New ULI president Chris Choa puts focus on connectivity

“Connectivity is destiny.” It sounds more like the tagline of an epic Hollywood film trailer than the mantra of the Urban Land Institute’s new UK president. But… Read more »

E Europe