| Click for the Finfacts Ireland Portal Homepage |

Finfacts Business News Centre

Home 
 
 News
 Irish
 European
 International
 
 Analysis/Comment

RSS FEED


How to use our RSS feed

 
Web Finfacts

See Search Box lower down this column for searches of Finfacts news pages. Where there may be the odd special character missing from an older page, it's a problem that developed when Interactive Tools upgraded to a new content management system.

Welcome

Finfacts is Ireland's leading business information site and you are in its business news section.

We provide access to live business television and business related videos from: Bloomberg TV; The Wall Street Journal; CNBC and the Financial Times. Click image:

Links

Finfacts Homepage

Irish Share Prices

Euribor Daily Rates

Irish Economy

Global Income Per Capita

Global Cost of Living

Irish Tax 2008

Climate Change Reports

Global News

Bloomberg News

CNN Money

Cnet Tech News

Newspapers

Irish Independent

Irish Times

Irish Examiner

New York Times

Financial Times

Technology News

 

Feedback

 

Content Management by interactivetools.com.

News : European Last Updated: Oct 12, 2009 - 8:41:02 AM


Strongest increase in UK commercial property development activity for over two years in September
By Finfacts Team
Oct 12, 2009 - 6:47:02 AM

Email this article
 Printer friendly page

Source: Markit Economics

UK commercial development activity gained further upward momentum in September, according to latest survey data from agents Savills.

29% of developers reported a rise in activity over the month, compared to just over 17% that signalled a decline.

At +11.6% in September, the resultant net balance, the Total Commercial Development Activity Index, was the highest since July 2007.

Growth of overall activity has now been recorded for two months in a row. In September, private sector development increased at the sharpest pace since July 2007, but public sector activity fell over the month.

The degree of business optimism in the commercial development sector held steady in September, following the two-year high recorded in August. The net balance measuring the three-month business outlook dipped only fractionally from +11.1% to +10.1% in September.

Companies anticipating an increase in activity over the final quarter of 2009 generally pointed to signs of an improvement in market demand. Data indicated that developers were most optimistic about the industrial /warehouse sector and least confident regarding office activity.

Growth of activity was driven by private sector development in September. Public sector office activity, new build and retail & leisure all declined over the month, following solid gains in August. Refurbishment was the best performing broad area of commercial development in September. Latest data also indicated marked rises in office fit-out activity and private sector office development.

Commenting on the September survey, Mat Oakley, head of Savills' Commercial Research department said:"This month’s data points to a sharp increase in refurbishment and office fit-out activity. Both of these tend to the first sectors to recover from the downturn and rely less on bankers’ cautionary stance regarding development. The evolution of the development market over the next 12 months will depend heavily on both bankers' and politicians' decisions - - not necessarily a comforting place to be!"

Related Articles


© Copyright 2009 by Finfacts.com

Top of Page

European
Latest Headlines
German merchandise exports fell 18.4% in 2009; Year marked biggest drop in trade since 1950 - - China becoming the world's top exporter; Exports up 3% in December
Competitiveness of Eurozone economies: Long tradition of tensions
European Central Bank keeps benchmark rate on hold at 1%; Trichet to address press conference; Bank of England holds rate at 0.5% - - lowest since 1694
European Central Bank and Bank of England expected to leave interest rates at historic lows
Euro's role as a reserve currency is growing
European Commission accepts Greece's rescue plan but warns further spending cuts and new taxes might be needed
Eurozone retail sales volume flat in December -- down 1.6% in 2009
Growth of Eurozone service sector moderated at start of 2010; Ireland was the weakest performer overall
Eurozone industrial producer price index fell 0.1% in December - - down 2.9% in 2009; German retail sales rose in December
Eurozone PMI at two-year high in January; France and Germany leading the recovery but Spain, Ireland and Greece fall further behind
Eurozone unemployment rose to 10% in December 2009; Ireland's rate was at 13.3%; Netheralnds at 4.0% and Spain at 19.5%
Eurozone confidence surveys point to continued optimism in January
Eurozone savings rate falls to 15.8% in Q3 2009 compared with 4.5% in US and 2.0% in Japan
German government revises up forecast of 2010 economic growth to 1.4%; Deutsche Bank says growth of over 2% is likely
UK economy exited recession in the fourth quarterly of 2009 but quarterly growth rate of 0.1% was very weak
German business confidence rose to an 18-month high in January
German consumer climate marks a cautious start to the New Year
Eurozone recovery continues in January but output growth slows
French and German governments raise their economic growth forecasts for 2010
UK recovery reliant on a roaring trade with the tiger economies; Decade of painful readjustment to follow decade of debt