Improvements in London's commercial property market should filter through to other locations around the country, it has been claimed. Director of commercial research at Savills Mat Oakley explained that the capital is often the first place where things pick up, which stimulates growth elsewhere.
"The rest of the UK is probably coming into the first year of its recovery. There are leaders and laggers in the UK real estate market and London tends to recover first and then the recovery trickles out," he stated. Mr Oakley pointed out that the city put in a "strong" performance during 2010, while activity in other regions was still falling.
According to the latest figures published by the Royal Institution of Chartered Surveyors, commercial real estate in the capital was in a much better position than other parts of the country during the second quarter of the year. One of the significant differences was in the amount of available floor space in London compared to elsewhere.
- Tuesday 02 August 2011