Savills index shows workloads rising faster than any time since the credit crunch
Commercial development activity is growing at the most widespread rate for six years, according to the latest sentiment survey by agent Savills.
It said a balance of +18.9% of respondents to its commercial development activity survey in June said workloads were increasing, up from +5.8% in May, and the highest figure since before the credit crunch in 2007.
The rise was particularly marked in private commercial activity, with a balance of +26% reporting improving workloads.
All nine sectors the index monitors, except public offices and public new build showing positive scores.
Michael Pillow, director of building consultancy at Savills said that improving tenant and landlord confidence in the logistics, London and regional office markets had led to a “sharp recovery” in development activity. “Confidence has now been positive for nine consecutive months, and we expect this trend to be sustained,” he said.