East Norfolk and North Suffolk are areas heavily associated with the oil and gas industries. Unfortunately it cannot now be denied that the offshore industry is facing serious challenges and this may have a knock on effect on the economies of the areas that Aldreds covers. There is already evidence this year of people working in this sector reviewing their house moving plans in 2016
However, it is not all bad news. Lower oil prices mean cheaper petrol prices and lower inflation for those not in the oil and gas industry. Also there are great opportunities opening up locally in the wind and renewables sector as these industries expand. This may lead to other doors opening as some are closing.
To quote Franklin D Roosevelt ‘We have nothing to fear but fear itself’.