Survey highlights sector dip

Research into the confidence of the commercial property sector has highlighted the extent of the lack of belief in the sector.

According to a survey compiled property experts Smith & Williamson, confidence in the market has declined from 91 per cent to 58 per cent.

John Voyez, head of the property arm of Smith & Williamson's, claimed that the dip in faith was a direct consequence of the sub-prime crisis which has hit the US.

He said: "The ripple effect of problems in the US sub-prime lending market has been felt in the UK as is obvious from recent events."

And claiming that future growth may come at a slower rate, he added: "After over a decade of growth, the property market has finally peaked and the golden years seem to be over."

Meanwhile, Close Investments has claimed that current dip in the prosperity of the commercial property sector could last for up to three years due to a lack of confidence in the sector.

Martin Slowe Property Services are Commercial Property Consultants offering a full range of Commercial Property Services.