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Home Properties – Property is a vital cog in recovery

According to the latest RICS UK Commercial Market Survey, improvements in the commercial property market in the first half of the year faltered during Q3 2011 as occupier demand fell back for the first time in 12 months.

In would seem falling demand and rising availability has impacted on rental expectations, which weakened over the quarter, moving deeper into negative territory. The one area which continues to show a positive trend for future rents, albeit a flatter one than earlier in the year, is the central London office market. Simon Rubinsohn, RICS’ chief economist says: “While the London commercial market is still holding up relatively well, some of the positive momentum appears to have faded in the capital over the last few months – reflecting the wave of negative news flow surrounding both the prospects for the UK economy and the sovereign debt crisis in Europe.”

But property is still a vital cog in the whole of the economy. A new study from the Property Industry Alliance, the Property Data report, has found that the property industry contributes £46bn per year to the UK’s GDP. Robert Finch, chairman of the Property Industry Alliance, says: “The report shows the importance of the commercial property industry to the overall UK economy should not be underestimated and the crucial role it will play in our economic recovery. From providing places for people to work, shop and play through to playing a major role in funding retirement, the sector is a crucial cog in the UK economy. In legislating, the Government must be mindful of this.”

Enable of Bishop’s Stortford can offer independent financial advice on your property investments.

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