Confidence in UK Commercial Property Development being at it’s lowest.
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.”