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— Reasons to be Cheerful

Looking back on 2023, we can be pleased with some notable successes. Our usual approach is to push at the envelope of what may be acceptable to the planning authorities – and this has yielded some excellent outcomes this year. Achieving the best for our clients, while delivering great architecture, is a matter of professional pride for the team. The wins, as well as losses, are taken very personally.

All of our business revolves around personal relationships. Building the right team has taken us many years to date, and honing our offer is an ongoing project. We were lucky in 2023 to be able to add two great new members or our architectural team, to bolster our ability to deliver great design output. We also fostered links with new consultants to work alongside us, as well as working ever closer with our preferred construction partners.

No matter how well prepared we may be, the nature of our business is that we rely on a pipeline of work. Projects can involve a lengthy preamble, so pinpoint programming can be difficult, especially when set against the background of macroeconomic trends.

Economic forecasting is not a strength of the average architect. Calling the best moment to embark of a development project is a minefield that I should probably avoid. However, there are encouraging signs for those that need them. It would appear that our phase of breakaway inflation, which has affected building materials so drastically, is abating. This in turn is taking the pressure off interest rates, which now appear stabilised.  Additionionally, there are murmurings of a reduction in the base rate early next year. Good news for project funding.

As a result, 2024 should feel like a more stable environment in which to plan a project. In addition, coming off a run of difficult months means that the construction sector is keen for work. We anticipate a period of competitive pricing, as builders look to rebuild their own pipeline of work.

So there they are – my “Reasons to be Cheerful (Part 1)”

Happy New Year

Contact T-Space if you have a project you want to chat about.