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01/02/2010
2010 commercial property recovery 'is unlikely' |
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A sustained recovery of the commercial property sector in London and the rest of the UK is unlikely to take place in 2010, according to a report.
New analysis from the Ernst & Young ITEM Club has suggested that recent record increases in UK commercial property prices do not necessarily indicate the sector is returning to full health.
Those looking to consult a commercial property solicitor over a purchase were warned that government assistance programmes such as quantitative easing are due to end soon, which will have negative repercussions.
Andrew Goodwin, senior economic advisor to the Ernst & Young ITEM Club, also cautioned that banks are likely to increase their default rates, which will further limit growth.
He said: "It is difficult to see how the level of recent activity can be sustained."
This follows advice from property firm Reita, which suggested that the continuing economic uncertainty in Britain is likely to curtail the commercial property sector's development in the foreseeable future. |
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