Brexit hits commercial property

The Royal Institution of Chartered Surveyors’ latest commercial market survey shows demand for commercial property in London stayed in negative territory for the 12th quarter in a row. And demand from overseas investors has also continued to drop as Brexit looms, Niall Lindsay of surveyor Lapar said: “The key issue is Brexit. The market is less concerned about whether we remain in or out. It just wants certainty one way or the other.” Retail was responsible for pulling the overall figure below zero, with a net balance reading of minus 61 on the demand gauge. By contrast, surveyors reported seeing demand rise for industrial buildings, a large part of which was for warehouse space for online shopping.

City AM (24/07/2019)