Commercial property returns to pre-crash levels | 15 August 2013
The commercial property sector has reached levels not seen since before the financial crash of 2007, building.co.uk reports.
According to new research from property firm Savills, activity in the commercial property sector has reached its highest level since May 2007, with private sector activity driving the trend.
The figures for July 2013 found that the balance between respondents quoting more or less activity on recent months stood at +20.1 per cent. Back in June, meanwhile, the balance was at +18.9 per cent.
Specifically, it was the private sector which produced much of the positive feedback, accounting for a net balance of +25.9 per cent, compared to the +1.4 per cent noted by the public sector.
Where individual industries were concerned, private offices saw their best results in nine years, growing to a total balance of +30.8 per cent. The record was set by the industrial and warehouse sectors, however, which managed to rise from +26.3 to +32.6 per cent.
When looking ahead, 25.1 per cent said they were looking ahead confidently, compared to just 14 per cent who thought a negative turn was on the horizon.
Speaking of the future opportunities awaiting those in the commercial property sector, Savills’ director of building consultancy, Michael Pillow, told cnplus.co.uk: “The sharp rise in confidence bodes well for development activity in the second half of the year.”
The views expressed in this post are those of the author and are not necessarily those of Qube Global Software. All facts are verified where possible directly by the author.
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