Principality Building Society has welcomed members and property professionals to Cardiff for its annual Capital Economics breakfast, held in partnership with Capital Economics.
The event examined the current UK economic landscape, offered insight ahead of the Autumn Budget, and provided a networking opportunity for professionals across Wales’s property sector.
The breakfast took place at The Parkgate Hotel and was hosted by Richard Wales, commercial lending director at Principality Commercial.
Iain Mansfield, incoming chief executive officer at Principality Building Society, opened the event, followed by a keynote speech from Paul Dales, chief UK economist at Capital Economics, who delivered analysis on the future economic outlook.
Mansfield 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.”
Dales 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.”
