What is happening to high street retail shops and the retail property market now that Covid19 seems to be on the retreat?

Over the past 4 weeks, we at Sell My Commercial Property have seen an increase in calls from owners of high street retail shops who are nervous about the future of the retail property market and therefore very keen to sell.  The threat now is not necessarily Covid19 but high inflation, rising interest rates, the growing popularity of home shopping, increases in business rates, mounting personal and business debts and the fall in consumer spending.  All these factors are leading to more shop closures, falling commercial property values and a wave of people wanting to sell.  During 2021, it was reported that over 8,700 shops closed, although it is thought that the real number is actually much higher, and so far this year it has been announced that Wilko, Lloyds, Halifax, TSB and many more will be closing a large number of their branches/shops.

We believe that a crash is on the horizon and the high street is in for a very turbulent and uncertain future.