THE summer holidays season is well and truly upon us so there is an inevitable and natural slow down in activity in the commercial property market in general.

However, with recent political events reverberating around the country and reaching every corner of the United Kingdom, both domestically and internationally it’s going to be an interesting period for the property markets, to say the very least.

The debate is only starting about what will happen post Brexit and the way the new Prime Minister will deal with issues such as, trade, immigration and the rest, as well as the potential ripple effect that such negotiations will have on regional budgets and investment.

We hope that the UK government policy may turn from one of 'austerity' to almost the opposite: one of government spending on major infrastructure projects which will inject a much needed boost to the construction and manufacturing sectors.

As I have consistently maintained, it may now be time for regional development organisations to raise their heads again to fill the gap between the supply development of commercial property and demand especially for modern work space.

The current economic indicators seem strong although certain analysts point to a possible slow down in the economy, this seems to be borne out with the news recently that last month activity among UK manufacturers contracted at its fastest pace for three years .

The Bank of England’s decision to cut interest rates to a record low 0.25 per cent has the aim of stimulating stronger growth, although again the way this is perceived by an economy and business in general has a big effect on how the economy will react.

The biggest issue with regard to any economy is confidence and it has not been the case for a long time that businesses and investors alike hang on every piece of results or figures news. We must hope that good news stories make more impact on confidence than those with a negative slant.

On a local scale Newport and the surrounding area including Cwmbran and some Eastern Valley areas do seem, if not setting the world alight, to be on a distinctly positive curve.

Perhaps slow and sure is what is required at present with sustainable growth being the way to bring long term confidence back to both the regional and national economy?