Commercial property funding to rise, says PwC
More than a third (38 per cent) of lenders in the Midlands are intending to make more finance available for commercial property development in the next year.
According to an audience poll completed by accountancy firm PwC, 19 per cent of the region's lenders said they did not expect funding to increase in the next 12 months.
Those who expected to increase or maintain funding attributed the positive outlook to the establishment of the region's LEPs and the introduction of enterprise zones.
More than four-fifths (87 per cent) of lenders said they thought that the LEPs were likely to have "a positive impact" on the region’s commercial property sector.
Alistair Reason, real estate expert at PwC in the Midlands, said the outlook for commercial property investment in the Midlands is "definitely improving", but said it had reached a very low level in recent years.
He said: "The establishment of the region’s LEPs is helping to instil a sense of confidence among investors and while there is still some uncertainty about how much benefit will be felt by the region’s commercial property market in the short term, things are definitely starting to look up."
