13 July 2015

High hopes for region's commercial property market

Confidence in the region's commercial property market has risen sharply amongst specialists in the sector according to a survey of over 200 delegates at a recent seminar. Some 92 per cent of delegates at the recent Essex Property Seminar expected commercial property values to rise in the next twelve months up from 79 per cent at the same stage last year.

For residential property, 98 per cent expected values to rise, up from 45% two years ago. Some 84 per cent of those attending were more positive about the sector than last year.

The event in Colchester held by BDO LLP, Ellisons Solicitors and Fenn Wright also heard an optimistic message on the economy from the Bank of England's agent for East Anglia, Phil Eckersley.

Lewis Chambers of Fenn Wright pointed to strong demand for residential and commercial property, more speculative development, better letting prospects and rising residential values and rents with high optimism Colchester, Ipswich and along the A12 corridor.