RICS Commercial Market Survey
RICS Commercial Market Survey Q4 2009
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London office availability starts to decline
Read the RICS Commercial Market Survey in full.
- Tenant demand rises further for office and industrial property although retail still lagging.
- Rents no longer expected to fall in Central London offices as available space declines for first time in over 2 years
- Investment transactions jumps for all sectors
Lettings activity for commercial property moved higher in Q4, for the second consecutive quarter. Net balances for enquiries, demand and confidence picked up at a faster pace. Of the sectors, retail property continues to lag with tenant demand still in decline across most regions outside of London and the South East.
Central London offices saw the largest upturn in activity although all regional office markets are now seeing a modest pick up for the first time since Q2 2007. A countrywide expansion is also underway in the industrial market. Indeed, surveyors expectations with regard to rents and future lettings rose further.
