Insider News South West – Bristol property market 'well placed' for recovery

Insider News South West – Bristol property market 'well placed' for recovery

Bristol is well-placed to emerge from recession with a healthy property market, the audience at DTZ's Money into Property event was told yesterday (31 May 2012).
Tony McGough, the company's global head of forecasting and research, said: "When recovery comes, Bristol will be one of the few markets to benefit over and above the average." McGough said that the city’s low vacancy rates would result in higher office rents.
He added that confidence among lenders climbed last year, when a quarter of those surveyed said they expected real estate loan books to increase, but that less than 10 per cent had made the same prediction this year.
More lenders are prepared to invest in prime property though, 64 per cent of lenders, up from 40 per cent in 2011, saying they are looking for prime opportunities. The number of lenders prepared to lend to part pre-let schemes has halved though, while unsurprisingly no lenders at all were prepared to fund speculative development.