Commercial Property Market Beats the Recession!
Whilst many industry sectors struggle in the current economic climate, commercial property firms have enjoyed their busiest month in over two years!
Statistics published by Savills revealed that March saw a 25% rise in overall activity within the commercial property sector compared to 12% in previous months. Michael Pillow, head of building consultancy at Savills, said “encouragingly, this recovery appears to be broad-based and not just London-focused”, as developers outside of London and the South-East of England reported a rise in activity.
Research also suggests that public sector work has expanded for the first time since February 2010, along with private sector developers who announced their first growth in nine months. The fastest growing sectors were reported to be those within industrial properties and refurbishment, whilst firms working on public sector office space unfortunately reported a dip in activity during March.
However, these statistics are the best reported since April 2010. Let’s hope that office space within the public sector picks up in the coming months.
If you’re looking for office space in London, talk to Search Office Space today on 0800 524 4649 to discuss your requirements.