Newspaper article The Journal (Newcastle, England)

North Confident as Others Worry; Commercial Property

Newspaper article The Journal (Newcastle, England)

North Confident as Others Worry; Commercial Property

Article excerpt

DEMAND for commercial property in the North East has remained steady, or even increased in some sectors, despite national research showing the fastest decline for six years.

That is the picture emerging from the latest Rics Commercial Property Survey where a balance of +30% reported a fall, in demand compared with a balance of - 15% in the fourth quarter of 2007.

All sectors saw a fall for the second consecutive quarter, with retail suffering the largest decline, dropping to the lowest balance in the survey's history.

The continuing credit turmoil and a slowing housing market are clearly weighing upon both retailer and consumer confidence. New occupier inquiries also fell in all three sectors nationally for the second consecutive month and at a faster pace. Financial turmoil is said to have affected decision making, with many re-evaluating their demand for commercial property space.

The North East bucked the general trend, with inquiries, demand and general confidence unchanged on the previous month. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.