Sunday 17th December 2017
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Strong demand for industrial property offsets slowdown in retail and office markets

The region’s industrial property market remains strong with rents expected to continue rising although occupier demand for retail space is flat and falling in the office sector, according to the latest East of England RICS commercial market survey.

Rent expectations remained strong for industrial properties but were more subdued in the office and retail sectors. Meanwhile, the investment market appears healthier than the occupier sector although investment enquires rose across the board. Nationally, occupier demand in the quarter held steady with 5 per cent more respondents seeing an increase as sentiment picked up. Demand for industrial space rose by a net balance of +28 per cent and two thirds of respondents said the market was fairly valued. But over a third of respondents in the South East felt values were ‘stretched relative to fundamentals.’

RICS economist Tarrant Parsons, said:“As with the rest of the UK, a key issue for the region going forward will be how the market responds to the likely first interest rate rise in a decade next month. Given that expectations are only for a modest tightening in policy, the likelihood is that it will be able to weather the shift in the mood music. But this remains a potential challenge if rates go up more than is currently anticipated.”

 

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