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Real Estate Trends 2017

Real Estate Trends 2017

Highlights Real Estate Trends 2017 held in Boise, Idahoon November 14, 2016:

ULI Idaho presented its annual real estate trends and forecast meeting, featuring insights from leading experts both nationally and locally. The event featured a keynote address by C. Andrew Warren, Director, Real Estate Research, PwC on the Emerging Trends in Real Estate® 2017 report—a publication from PwC and ULI, now in its 38th year of publication. Ten major themes are highlighted in the report:

  1. It is a kinder, gentler, real estate cycle
  2. Optionality not just for on use, one user, or one user profile is gaining favor.
  3. Transformation through location choices is benefitting downtown and the bottom line
  4. The role of the small entrepreneurial developer is on the rise
  5. Labor scarcity in construction costs
  6. Housing affordability: local Governments step up
  7. Gaining entry beyond the velvet rope a challenge in both cities and suburbs
  8. The connectedness of cities is a boom for efficiency
  9. Augmented reality is a technology that can benefit real estate
  10. Blockchain for 21st real estate may change real estate record keeping and financial protocols

The keynote was followed by a panel on the outlook for the region’s real estate, including: Corey Barton, President of CBH Homes (residential); Cameron Gunter, CEO, PEG Development (hospitality); LeAnn Hume, CCIM and CLS, Senior Director, Cushman and Wakefield Pacific (retail); Lew Manglos, Investment Broker, Colliers International (office); Ron Van Auker, Jr., Principal and Co-owner, Van Auker Companies (industrial); and Dave Wali, Executive Vice-president, Gardner Company (investment) moderated by Kâren Sander, Associate, Cushman and Wakefield Pacific.

The Main Take-away from the Panel:

  1. Locally we are seeing more diversification in housing types.
  2. Retail growth is in fulfillment centers and high street. Middle of the road retailers are failing.
  3. Office downtown locations continue to outpace and be more resilient than suburban.
  4. Hospitality growth is in leisure and independent. Business occupancy as a percentage of total if half of what it was before the recession.
  5. Industrial demand for suitable land is high. Locally the sector suffers from a lack of institutional investors, lease rates dragging behind costs and transportation.
  6. Investors locally are in downtown, amenitizied suburban products and senior housing.

A copy of the panel presentation can be viewed:merged-presentation