Savills: June saw decrease in public sector development activity
Date posted: 14 Jul 2010
Last month saw a substantial decrease in public sector development activity, according to figures published by Savills.
Published by Tim Hill.
A sharp drop in public sector development activity was witnessed in the UK last month, new figures have suggested.
According to Savills, this had an impact on the country's overall levels of commercial development activity, which appear to have fallen slightly.
Of those included in the firm's research, 19 per cent of commercial developers saw their overall activity go up last month.
However, 22 per cent believe activity dropped during the four-week period.
Savills' head of building consultancy Michael Pillow suggested that growing private sector activity might be addressing declines in the public sphere.
He commented: "Development activity for public sector clients [is] now in double-dip territory.
"Thankfully the slack is being taken up by continuing growth in the private sector."
Earlier this month, Kelvin Davidson, property economist at Capital Economics, noted that he is not particularly surprised to have seen a recent slowdown in commercial property capital growth.
Please contact Michaela Henson, Head of Property for further information or call 01223 225178
Click here to email or call on 01223 225237.
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