Confidence Returning to Regional Market

Posted on 16 May, 2013 by Jodee Redmond

Jones Lang LaSalle says that confidence is returning to the regional commercial property market and that it is “stronger now than at any point since the financial crisis.”

Tim Luckman, of the North West valuation advisory team, made the comment at the firm’s spring briefing. He stated that the market has passed its lowest point and was now improving.

Luckman said, “While the recovery is by no-means at full speed yet, the overall sentiment in the marketplace is more positive now than it has been for several years.

“The news I hear on a daily basis from the region’s property companies, private investors and developers is generally positive – occupier activity has improved, take-up is on the rise across all sectors and incentives are coming down.

“Investment sales for prime and good secondary assets are now typically subject to multiple bids, with premiums on some portfolio sales. Owner occupiers are returning, and my own team has valued more land in the last six months than at any time in the past five years; developers are finally dusting off their plans.”

However the firm’s European head, Andrew Burrell, pointed out that although it appears the market has bottomed out, conditions remain challenging and economic growth in the United Kingdom remains very sluggish. He went on to say that recovery is dependent on “wider events in the fragile global economy.”

The improvements in the market must be considered in light of the last few years, which have seen some of the most difficult conditions in a generation, according to Burrell.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recent Posts

The best places to stay on the Riviera

The latest property data has identified Newquay as the fastest property seller’s market in the UK

Investing in your garden can increase your property’s value

French Riviera temping high-end homebuyers

How can the ownership rights of my commercial property impact a business sale?

Should I incorporate virtual property viewings permanently?

Investment expected to increase across Asia-Pacific in 2021

UK property industry slows as the conclusion of tax break looms

BNP Paribas cautioned investors on Friday as debt-trading bonanza that increased its earnings this past year

Over 300,000 property purchases fell through in 2020 – we show the most frequent motives and the best way to get your house sale back on track

House Prices in the Capital Surpass £500,000

Optimism from the Bank of England’s chief economist

The most expensive commercial properties.

Businesses operating from shared premises will miss out on grants

BA cuts 12,000 jobs, unions hit back

Media Streaming Service See Record Subscriptions