Principality Building Society has welcomed members and property professionals to Cardiff for its annual Capital Economics breakfast.
The event is run in partnership with Capital Economics, the global leader in macroeconomics and investment-related insights and data.
Examining the current economic landscape in the UK and offering insight into expectations for the Autumn Budget, the event also connected professionals from within Wales’ property sector.
Held at the The Parkgate Hotel, the event was hosted by Richard Wales, Commercial Lending Director at Principality Commercial, and featured a welcome speech from Iain Mansfield, Principality Building Society’s incoming Chief Executive Officer.
Paul Dales, Chief UK Economist at Capital Economics delivered the keynote speech and presentation.
Iain Mansfield, incoming Chief Executive Officer at Principality Building Society, said:
“It was great to see so many commercial clients, partners and property professionals at the annual Capital Economics Breakfast. As we look ahead to the Autumn Budget and beyond, understanding the macroeconomic environment is essential to supporting informed decision-making across the industry.
“Principality remains focused on expanding our Commercial business and strengthening our relationship model, while continuing to explore new market segments that will help us meet the needs of future growth.”
Paul Dales, Chief UK Economist at Capital Economics, said:
“It’s great to be back in Cardiff for the annual Principality Building Society/Capital Economics Breakfast Briefing. It’s one of my favourite events as it’s an opportunity to bring together property and finance professionals in one place, and I also enjoy the warm Welsh welcome provided to all attendees.
“Global uncertainty was a big theme of last year’s event. But this year, the greater uncertainty for UK-based property and finance professionals is the one posed by the upcoming UK Budget. It looks as though this is going to be a big Budget when it comes to tax rises, and it could possibly be seismic for the property market.
“If there is a silver lining for property and finance professionals, it is that the Budget may contribute to interest rates and mortgage rates falling further than most people currently anticipate. What’s more, the property markets in Wales and the South West are more insulated from the possible increases to property taxes than some other regions.”
Founded in 1999, Capital Economics’ team of more than 70 economists offer expertise in macroeconomic forecasting, financial markets, and sectoral trends across 100 global markets, economies and sectors.