Positive growth in 2007
Christie & Cox’s annual Business Outlook publication reports that, despite the widely reported crisis in the financial markets, average property prices across its six trading sectors continued to show positive growth in 2007, increasing by 7.1%.
Chairman of Christie Group, David Rug, comments: “During the first half of 2007, the business property market moved forward very positively, as forecasted, providing early indications of another strong year. Towards the latter part of the year we witnessed a smoothing of these growth levels, as a result of the uncertainty in the debt market, but values within our sectors still showed a positive gain for the year as a whole.”
The forecast for 2008 is a return to financial normality, where buyers of businesses are required to put in a real equity stake – typically 25-3-% of the transaction value. In the future, it is likely that the equity put in by the buyer will need to be a cash investment.
“Whilst the rate of increase in average values has declined in most sectors, when compared to the impressive growth we witnessed in 2006, we are still recording a positive increase, not a fall in property values for 2007.

Businesses within our sectors have generally responded well to the challenges they have faced during 2007. We predict that we will witness a return to a more normal market for business sales after the previous Bull Run.”

Getting to grips with environmental issues
Lawyers, conveyancers and property professionals in Bristol will be tackling the key issues affecting conveyancing including latest on Home Information Packs (HIPs) and environmental matters at a seminar being held on Tuesday 19 February.
The event is organised by Jordans, one of the UK’s largest providers of property searches. The seminar will feature lecturer, environmental legal specialist and author of the Law Society’s Environmental Handbook Trevor Hellawell and Denis Cameron, member of the HIP task force, former Chair of the Law Society’s Conveyancing and Land Law Committee and Law Society council member.
Both speakers will be looking at the most recent legislation; the latest on HIPs delivery and preparation, Energy Performance Certificates, the personal search problem and key environmental issues, while advising delegates on best practice and future problem areas.