High end London agency Beauchamp Estates has been selected to join the Bank of England’s advisory panel of companies and senior directors, and to provide property sector data to assist with economic forecasting.
In addition, Beauchamp Estates’ managing director Jeremy Gee will become a member of the bank’s Decision Maker Panel.
The DMP provides a monthly survey of small, medium and large UK businesses, used by the Bank to monitor developments in the economy and to track businesses’ views.
Property Week reports that Gee and Beauchamp Estates will provide the Bank with data on how business conditions are evolving and changing in the London and UK residential property market, covering transaction volumes, prices, deals, employment and investment.
The data will be used specifically for the Bank’s review of the implications of the Brexit referendum on corporate decision making and property sector performance.
“Beauchamp Estates is pleased to be joining one of the Bank of England’s advisory panels, providing the bank with ongoing data on our performance, property industry outlook and trends within the property market” says Gee.
A month ago Beauchamp warned that it could take until spring 2021 for the luxury market in areas such as prime central London to resume – but when it does come back, there’s likely to be a mini-boom.