4
Aug
Northern property companies 'optimistic' about the future
Many companies in the north of England are feeling more optimistic
about the future, according to one property expert.
Steve Georgiou, a director at magazine publisher Property
Executive, said that areas such as northern Scotland do not seem to
have suffered as much as the rest of the UK in the recent property
crash.
The latest Jones Lang LaSalle index revealed that returns in the
second quarter of this year declined the least since the second
quarter of 2008, falling by just 1.8 per cent, compared to a 6.4
per cent fall in the previous three months.
"There is a sense of optimism starting to appear within some of
these areas," said Mr Georgiou, commenting on the situation in
major cities such as Leeds and Manchester.
"People are starting to believe that things are slowly picking
up"
In related news, the Investment Property Databank reported last
month that in June UK commercial property capital values
experienced their smallest decline since August 2007.
