The current doom and gloom reaching across the property industry and wider economy, since the referendum, has been hard to avoid. This cloud of negativity has made it difficult for people to remain positive. We need to remember that the world is still turning, people are still trading and in reality nothing has yet changed. It’s the sheer panic and uncertainty that is causing problems.
Like many others within the property industry, the last 3 weeks have been very tough here at TDM with a number of clients pulling out of deals or putting appointments on hold. The PLC world has all but closed the door to new recruits and with the impending historically quiet summer period approaching the likelihood is that this difficult period will continue.
However, there are many companies out there capitalising on the situation, the property and construction industry is very much still alive and kicking. This is prevalent in the small and medium sized developers and house builders who are viewing this current climate as an opportunity to buy prime land that they might not usually get a look at, or invest in highly skilled staff that only come on the market once in a while.
At TDM we have just had the busiest 3-day period for new instruction than we have had in the past 3 months. It’s taken us a little by surprise with work unexpectedly pouring in the door. We have seen particular interest in commercial, project management, site management and development/ planning staff. As with most we had our own fears but it’s clear there is still plenty of opportunity, it’s just a case of finding it and adjusting quickly to what will soon become the ‘new normal’.
These existing and new clients we have been speaking to are cautiously optimistic about the current climate and the opportunities that the new world has presented. With the continued strength and initial fears pushed aside we can continue to be a booming sector and bring great value to the economy.
With the recession of 2009-11 still fresh in peoples mind I feel there has been a tendency over past few weeks for the industry to talk itself into another one. Yes, things are different and the rules of the game have changed a little, but with that brings new opportunities.
Which ever way you voted in the referendum we have to push ahead and deal with the hand we have been dealt. If new job instruction continues in the same vein over the next few weeks, then its exciting times ahead for the industry and TDM.