Enquiries up in northern England
The mood improved in the commercial property market in northern England during the first quarter of this year, according to a RICS survey commented on by Crain’s Manchester Business today.
The weekly business newspaper says the survey showed a marginal improvement in the net balance figure for rental expectations (surveyors reporting increases in rental prices during the previous quarter, minus surveyors reporting declines) at –22 for Q1 2010 compared with –16 for Q4 2009, and a strong improvement from the year-ago figure of –78. The last time this figure was positive in northern England was Q3 2007, Crain’s adds.
The survey also found that enquiries for all types of commercial property in the region had increased during the first quarter of this year, and that confidence in the outlook for lettings had also improved. A total of 24% of surveyors in northern England questioned in the survey reported a rise in enquiries during the quarter, up from a net balance of zero in January, the paper says.
