Confidence in UK Commercial Property Development being at it’s lowest.
February 17, 2016
Recent survey from Savills point to confidence in UK Commercial Property Development being at it’s lowest since April 2013 – Growing the fears that the European referendum is hitting confidence among developers. There was positive in that January saw an increase in activity of 8.4% compared to 4.5% in December.
Fewer new planning consents are now being granted along with other figures in negative trend including public new builds and retail & leisure activity. The full report from Savills can be found here.
Kevin Mofid, a Savills researcher, is quoted to have said: “This could be that investors and developers are delaying capital expenditure decisions until after the European referendum and London mayoral elections.”
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