Both investor and occupier demand in the UK’s commercial property market edged up during the third quarter of 2017, but there is more caution around the central London market, the latest analysis report shows.
There is also significant difference between sectors with industrial clearly outperforming the others and retail the weakest, according to the commercial property market survey from the Royal Institution of Chartered Surveyors (RICS).
It also reveals that rent expectations are upbeat for industrial space but flat for offices and negative for retail although overall that has been a pick-up in both domestic and foreign investment demand at a national level.
However, London continues to display more cautious sentiment with 73% of respondents in central London sensing the market to be in some stage of a downturn.
Overall in the third quarter investment demand for commercial property continued to pick up, with 20% more respondents seeing an increase rather than decline in investment enquiries, up 10% in the second quarter of the year.