Tue 08 Nov 2022
The Royal Institution of Chartered Surveyors (RICS) latest quarterly UK commercial property monitor for the third quarter of this year has just been published.
Commenting on the RICS data, Harry Baines, Partner & Head of Commercial, Shouler & Son, said, “Our experience in the East Midlands reflects that of the national picture with a weakening of market activity across all commercial property sectors.
“This weakening has been driven entirely by economic conditions and central fiscal measures.
“Momentum in the industrial property sector is slowing down, where any activity is underpinned only by lack of supply.
“There is still investor focus on land in looking to secure a solid supply for a pipeline of future development.
“The final quarter of the year looks set to reflect the general drift of Q3.
“We are looking to the Chancellor’s scheduled Autumn Statement later this month (17 November) to set the tone for the first half of 2023 and beyond.”
To download a copy of the RICS Q3 2022 UK Commercial Property Monitor click here.