The Q1 2014 RICS UK Commercial Property Market Survey highlights a continued strengthening in both the occupier and investment sectors.
This improvement is becoming increasingly broad based, says RICS, in both sectoral and regional terms; this is no longer just a London offices story.
Figures for the South region are below:
• Demand for commercial property has risen, with 45% more surveyors polled reporting higher demand in the south from clients for space in the first quarter of the year.
• This is the highest level since Q3 1998 and the increase marks seven solid quarters of demand growth in the region with the upswing particularly marked for offices and industrial real estate.
• A net balance of 21% of surveyors reported a drop in the availability of office space in the south with 51% seeing a rise in demand for office space – again the highest level since Q3 1998.
• Surveyors also report sharp demand for industrial space, with 53% seeing a rise in demand in the south.
• The net balance of surveyors reporting stronger demand for retail space was 32% with 8% of surveyors seeing a drop in availability.
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