As our days start to grow shorter and we notice the odd chill in the air, my thoughts always turn to the amazing psychological effect winter seems to have on us mere mortals. They have even given it a name in seasonal affected depression (SAD for short).

When I combine the cumulative effect of recent economic trends and happenings with the prospect of another winter, I really do start to have concerns for many of our business and property sectors. Certainly there will be winners and losers but I suspect that the retail sector will find the going particularly tough through the winter months. This then impacts rentals and vacancies and so the damage is not just to the individual retailers but flows through to other parties.
The industrial sector too is still trying to get back on its feet and fill the hundreds of thousands of square metres of space currently available courtesy of recession.
My company deals with dozens of businesses on a daily basis and we are certainly not convinced that the worst is over. Yes there are encouraging signs of activity compared to 2009, but I suspect that the recovery will be long and painfully erratic. While many firms are undoubtedly more optimistic than last year, most are still exercising a lot of caution with regard to expansion or investing in the business.
Whilst the rate of mortgagee sales appears to be slowing, one needs to be careful when considering this particular indicator as there are many 'grey' sales where the lender effectively forces the owners to sell without it actually being seen as a true mortgagee sale.
And so, as we unavoidably continue our annual march towards winter, we can only hope that summer in the northern hemisphere is a positive experience for the major countries as we are all now inextricably bound together in one universal village.
Until next time, have a great week.