Property progress for East Mids
Property demand is rising across the East Midlands with more progress predicted in 2012, a report out today has found.
The Innes England Market Insite report claims that the East Midlands is to return to peak employment levels within the next three years, ahead of the West Midlands and northern regions.
It found that in 2011 industrial demand rose across Nottingham, Derby and Leicester while the the retail sector "continued to make small steps amid muted consumer spending".
Robert Hartley, managing director at Innes England, said: "If we look back to this time last year, who could have predicted that Derby, Leicester and Nottingham would be able to make any progress when globally we are still struggling in such a harsh economic climate.
"With bleak headlines about high unemployment levels and the ongoing saga to find a solution to the EU banking crisis, most people expected 2011 to be a struggle. What we have seen over the last 12 months however, was something much more positive than most people had expected, with significant highlights in all three cities."
Looking ahead, he said: "There are substantial challenges ahead, but we should not forget that Nottingham, Derby and Leicester all have substantial and diverse economies. I am confident that all three areas face these challenges head on and will continue to make economic progress in 2012."
