For those of you who headed back to work on Tuesday morning hoping that the spectre of Brexit (refreshingly absent from the festive dinner table) had disappeared, the illusion was short-lived. The news that Sir Ivan Rogers, Britain's permanent representative to the EU, was resigning placed Brexit firmly at the top of the "2017 agenda" and will have helped clear Theresa May's post-New Year hangover almost instantaneously. Sir Ivan's departure has certainly not helped engender confidence that the Government is ready yet for the tough bargaining ahead, but The Weekly suspects Sir Ivan is feeling immensely relieved to have such a weight off his shoulders. Getting relatively simple Heads of Terms agreed on a property transaction can often be tortuous; securing a never-tried-before, multi-faceted exit deal from the EU and its 27 other member states is in an entirely different universe!
With a seeming lack of political direction and Brexit wranglings likely to influence investor sentiment, there is a funny sense that the property market is entering a period of suspended animation (which strictly translates as "the temporary cessation of most vital functions without death"!) as we struggle for clarity on the direction of travel. CBRE's Real Estate Market Outlook released this week is clear only that "Q1 2017 will be a very uncertain time for property markets" with further volatility anticipated in UK financial and currency markets. That said they still believe there will be sustained domestic investor appetite focused mainly on income returns, as well as continued strong overseas interest. But perhaps one way to ease the "markets" uncertainty is for Theresa May to start tweeting her bedtime thoughts Trump-style?! Then again that is probably rather too revealing and just not very British!
Returning to work after the excitement of Christmas can be a rather depressing experience. The now pine-less Christmas tree sits forlornly in the front garden, the mornings are icy cold, and the rail commute is back to sell-out capacity (or in the case of the Tube on Monday morning not running at all!). And yet, just at a time when everyone needs cheering up, the majority of us have made New Year's resolutions that seem to only pile on the January misery. The gyms are packed with new-subscribers desperate to run-off the excesses of Christmas and office workers are trying to survive the month on meagre lunches of low calorie broth and Ryvita. Whilst The Weekly salutes all those who have resolved to make 2017 a fresh start, we think one budding entrepreneur this week summed up the tradition perfectly when he tweeted an idea for a business start-up. Said entrepreneur has resolved to open a gym called Resolution that runs for the first month of the year, collects a subscription fee, then converts to a bar named Regret!