UK: Commercial property downturn continues

[Duplex]

RICS Commercial Property Survey Q1 2008
19 April 2008

Commercial property downturn continues
The balance of surveyors reporting demand for commercial property fell at the fastest pace for over six years and to the lowest level in eight years, says RICS’ Commercial Property Survey.

All sectors reported a fall for the second consecutive quarter with the retail sector showing the largest decline, dropping to the lowest balance in the survey’s history.

Available space rose in the office sector for the first time in four and a half years while available retail and office space rose at the fastest pace on record.

This raises the possibility that rental growth will continue to weaken as the level of inducements are raised in a bid to keep property occupied.

rics.org/Practiceareas/Property/Commercial/Market/cps_q1_2008_res_190408.htm