Huge rise in commercial property activity | 18 April 2012
The UK commercial property market experienced its highest levels of activity for two years in March, according to new figures.
Research released by Savills suggests that 25 per cent of developers saw increased improved activity in the property market last month, whilst just 12 per cent saw a fall.
Commenting on the research, Savills’ head of building consultancy, Michael Pillow, was pleased to see that activity levels appeared to be on the up all over the UK.
He told business-sale.com: “With development activity rising at its strongest rate for two years, it is clear that developers are anticipating a demand-side improvement. Encouragingly, this recovery appears to be broad-based and not just London-focused.”
The encouraging signs were witnessed both in the private and public sectors. This is the first reported growth in the public sector since February 2010. Work on private contracts increased for the third consecutive month.
Speaking to moneyavenue.co.uk, Savills’ head of commercial research, Matt Oakley, claimed that the figures might indicate improved economic fortunes for the country as a whole.
“Developers are becoming slightly more optimistic about the prospects for economic growth, people are beginning to embrace the idea that a double-dip recession isn’t inevitable,” he said.
18 per cent of those questioned predicted an increased growth in activity over the next three months.
Written by Joe Elvin on behalf of Qube Global Software
While posted by Qube Global Software all views expressed are not necessarily those of the company. All facts are verified where possible directly by the author.
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