Wed, 13 Jun 2012 | COMMERCIAL PROPERTY
The commercial property market in the Midlands is showing signs of improvement, according to a recent Lloyds TSB Commercial report.
The Property Matters report, published on a quarterly basis, showed a clear difference between last year's results and this year's figures, with a strong swing towards optimism seen in the Midlands, while business owners in London appeared less confident in the market.
Around 18 per cent of respondents stated that they expect activity to slow in the commercial property market, while 54 per cent predict that it will stay at current levels in the Midlands, which leaves a net confidence score of +10.
Andy Watts, relationship manager for the bank in Birmingham, commented: “From a bank perspective, while it would be nice if this crucial sector of the property market were confidently expecting 2012 to be significantly better than the latter half of 2011, that isn’t going to happen without far more tangible evidence of movement in the market.
“However, the slight swing towards a belief in an upturn in the market and the fact that less people are predicting a decline is a positive sign.”
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