Garratt sees "glimmer of hope"
There is a "glimmer of hope" for the East Midlands property market in 2012, according to Tim Garratt, director of Insider award-winning Nottingham agency Innes England.
The property industry has suffered in recent years, said Garratt, and "despite feint signs of life in 2010 has slipped back into a coma-like state".
"Values are steadfastly stuck, transactions are thin and confidence resembles a spotty teenager at his first disco," he said.
Looking forward to the new year, Garratt said "the simple answer is that no one really knows" what is going to happen.
"We need to euro crisis to play out and come to some sort of conclusion. That should offer some stability and, hopefully, bring some confidence back," he said.
"The banks need to start opening up some lines of credit again. As Noddy Holder famously said, we need to look to the future now – it's only just begun. Looking back isn't fun.
"But when I reflected on the question, maybe there is a glimmer of hope.
"Nottingham will start work on the extension to the tram – and that is scheduled for January. This means a great long-term transport improvement – and, in the short term some jobs too. The government has announced the improvement of the A453 – which again is a positive for Nottingham. It's a shame it won't say when the diggers arrive."
Garratt also drew attention to the Olympics, which could well give the UK "something to cheer about".
"We have more austerity measures to come and that means changes. But we are a nation who can adapt. As the saying goes 'if things are to remain the same, things have to change'.
"We need to do things differently, we need to be innovative and find ways of working in this brave new world. The challenge should be seen as a positive."
