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Bank of England sets up advisory panel for the property sector

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Beauchamp Estates has joined the Bank of England’s advisory panel of companies and senior directors, with the agency providing company data and property sector statistics to the bank to assist with post-Brexit economic outlook policy.

Beauchamp Estates Managing Director Jeremy Gee was invited to become a member of the bank’s Descision Maker Panel (DMP) by the bank’s Chief Economist Andrew G Haldane. The invitation was accepted and Jeremy Gee is now a member of the DMP advisory panel.

On a monthly basis Jeremy Gee and Beauchamp Estates will be providing the Bank of England with confidential data on how business conditions are evolving and changing in the London and UK residential property market, covering issues including volume of sales, prices, deals, employment and investment.

The data the Bank of England derives from the DMP, drawn from various industries and from around the UK, will be used to assist the bank with reviewing the implications of Brexit Referendum on corporate decision making and assessing sectors such as property where action or policy may be required as part of assessing and managing the economic outlook for the UK.

The data from the DMP will be stored securely on the Bank of England internal network, only accessible by a senior team working on policymaking at the bank. Over time the bank will provide feedback results to the directors and companies that participate in the DMP programme. In addition, the bank will provide quarterly updates on findings on a quarterly basis as part of the releases of the Bank of England Agents’ Report, published on the Bank of England website.

Jeremy Gee, Managing Director of Beauchamp Estates says: “Beauchamp Estates is pleased to be joining one of the Bank of England’s advisory panels, providing the bank with ongoing data on our performance, property industry outlook and trends within the property market.”

The Bank of England highlights: “The DMP makes a significant contribution to policymaking in the UK. The evidence it collects has been used to brief members of the Monetary Policy Committee individually and collectively. Civil servants in government departments such as HM Treasury and BEIS have used it too to brief ministers.”




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