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Property holdings to grow in face of slowing economy
Jan 16 2008 by Tony McDonough, Liverpool Daily Post
DESPITE signs that the economy is slowing, occupiers of commercial property expect to expand their property portfolios on the back of continuing growth in output and employment over the next six months, according to the CBI/GVA Grimley Corporate Real Estate Survey.
The twice-yearly survey, conducted between October 24 and November 14, reveals 43% of firms expect to expand their property space in the next six months, while 22% plan to reduce it.
This balance of +21% is just below the rate occupiers expanded their space over the last six months (a balance of +22%).
However, firms in extraction and manufacturing sectors saw an overall contraction in property holdings over the last half year, and expect to continue reducing their space in the next six months.
Banking, finance and insurance firms also expect to reduce their property slightly in the first half of this year – a balance of-2%.
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