Confidence picking up in Midlands property market - survey
Commercial property confidence in the Midlands is "slowly starting to pick up", according to research by Lloyds Bank Corporate Markets.
It found that businesses are twice as likely to increase investment since its last quarterly survey and Midlands businesses are "committed to home markets" for the next two to three years. Housebuilding tops a list of favoured sectors, Lloyds said.
The survey, which involved speaking to 450 financial decision makers, revealed expectations of increased activity and improved performance "over the next three to six months".
Two-fifths of Midlands businesses (42 per cent) said they expect to increase their total investment commitments over the coming three to six months while more than half (54 per cent) expect to keep their commitments at a similar level.
No businesses said they expect to decrease their commitments, compared to 14 per cent in March this year.
Ian Martin, regional head of orporate real estate at Lloyds Bank Corporate Markets, said: "The previous quarter's results showed that the Midlands was starting to become less negative in its outlook and it's great to see that this has not only continued this quarter, but also improved."
