BCO 2015: The current financial recovery is one of the worst and slowest in modern history, experts at the British Council for Offices conference in Chicago warned today.
Professor David Blanchflower started the conference session by highlighting that current growth rates across the world – and in the UK and US in particular – were being propped up by low interest rates to such an extent that they were hiding “the worst and slowest recovery we have seen for hundreds of years”.
Eastdil Secured chief executive Roy March added that recovery growth was slow but said that the UK and the US would continue to be key markets for overseas investors.
He said: “Pricing is above the 2007 peak and likely to go higher thanks to low interest rates and the fact the world is starved for yield. And the US is seeing something of a ‘goldilocks’ period thanks to limited supply and growing demand.”
emily.wright@estatesgazette.com
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