2007 has long been a year to remember in the property industry, as many record-breaking figures were recorded during the space of these 12 months. However, that’s not to say that such heights are unattainable ever again, as recent months have shown that the statistics in many places are creeping up towards these lofty peaks once again. So it is with commercial property rental value, as related stats in this area have now been seen to hit their highest levels since quarter three of 2007.
Rental Value Growth Across the UK
According to Property Wire, around 16% of locations showed an increase in rental values of late, and 2014 as a whole saw a marked increase in terms of the prime rental growth in many areas. Such robust statistics are indicative of the increased levels of investment activity in the last year or so, and, as you’d expect, the city of London was leading the way in terms of rental growth once again.
The UK average growth figures during 2014 were largely situated around the 8% mark, yet London stood out by topping 11%. Such numbers were taken from various analysts observing the office sector in particular. In fact, office yields didn’t fare all that well across the entirety of the UK, yet more even growth patterns were displayed in the industrial sector, with the West Midlands topping the scales due to a long-noted lack of suitable industrial space and premises.
‘Stellar’ 2014 Sets Up Promising 2015
Another welcome development was the stabilising of retail and warehouse properties, as these twin areas had actually endured an abrupt decline during the first three quarters of 2014. Fortunately, they were rescued by a late growth spurt, and at the start of 2015 we’re now in place for what many experts are predicting as ‘another strong year’. The Economic Voice states that commercial property returned a ‘stellar’ 19.3% in 2014, and prevailing conditions – such as economic growth, low interest rates and the demand for dwindling property options – should lend themselves to further positivity.
Even with the electoral uncertainty that has begun to cast a shadow in the minds of many people, buyers for commercial property should remain consistent over the course of this year, and that should be especially true in the areas in and around London. As a result, competition will be fierce, so if you need professional commercial property agents in London be sure to get in touch. We can offer you sound advice and all of the very best deals, so call 0208 863 8680 today to find out more.
