More than half of UK property developers and investors are concerned about tough funding conditions in 2012.
Only 45% of attendees at audit firm Crowe Clark Whitehill’s property seminars in November said they expected access to funding in 2012 to remain the same as in 2011.
The remainder said funding may get more difficult, while 80% listed funding as the primary issue facing the property sector last year.
Other major challenges referred to by respondents were internal cash flow problems and the inability to sell assets outside of London.
Stacy Eden, partner and head of the property and construction team at Crowe Clark Whitehill, said: “Property investors and developers are willing to invest in the right locations within the UK. However, gaining access to funding is still limited, and will stifle growth in 2012.”
joanna.bourke@estatesgazette.com
