As per a survey being conducted by the Royal Institution of Chartered surveyors, it has been found that there has been improvement in the UK’s commercial property business. However, it shall be noted that the improvement is not up to the desired level as people still remain cautious about their investment decision.
This is happening due to the reason that the country has been passing through a rough phase, and recession has affected the commercial property business as well. No doubt, the country has been improving, buyers still remain cautious about the deal.
The survey has found that prices of house keep on declining and London was the only region in the UK, which has seen a rise in the property prices in March. However, experts were of the view that the rise is momentary and there will be decline of minimum 10% in the rate.
“London continues to outperform the rest of the UK in terms of prices but, interestingly, the North West did see an increase in activity in March”, said RICS Chief Economist Simon Rubinsohn. He further affirmed that they have witnessed a decent rise in the market in the first quarter of the years. However, it has to be seen that whether or not the growth continues.
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