Credit Crunch affecting Commercial Property Market
Open any newspaper and you will find articles about the ‘credit crunch’ and the impact it is having, especially on the property market. Take for example Tony McDonough’s article in the Liverpool Daily Post,”Property Sales Set to Fall By a Third” which claims that, “Property experts are predicting that the total volume of property traded globally this year will fall by at least a third because of the credit crunch”.
Having read such articles, the online commercial property search engine NovaLoca, spoke to the agents listing on the website and found that many have recently decided to stop all their marketing in order to save on expenses as they ride out the financial difficulties. However, the continued growth NovaLoca has seen over the past year is due to commercial property agents choosing to market their vacant properties, whether that be offices, industrial units, retail spaces or even land, on this property search tool. This increase in properties being advertised on NovaLoca implies that marketing using the internet continues to be a cost effective way of finding occupiers for properties and increasing property turnover as commercial agents continue to invest in online marketing even during these times when finances are a bit stretched.
Why not contact the NovaLoca customer services team on 01767 313380 to find out how marketing properties online with them can help to generate more leads for your commercial properties.
