The Space Race
The headline may be a little bit ‘sensationalist’ but the consensus amongst our agency teams is that there is now very real competition for any decently specified and located property that we bring to the market, especially for owner occupiers.
The data I am sure will follow through the year of take-up rates on available space that are literally happening ‘under our feet’ in the market at the moment. Slightly more tangible of course are the figures coming out of Government and the Office for National Statistics that confirm growth in the economy as well as some of the other survey evidence, one piece caught my eye in particular.
Aviva have carried out a UK survey that revealed 60% of SME’s are predicting strong growth in the first half of 2014. The survey also reflects on a question they asked in 2012 when 34% of business owners said they lost the initial enthusiasm they had, but in the latest survey this figure had dropped to a fairly insignificant 3%.
Our feedback is that many companies are seeing better trading conditions, volumes are up which is good, margins are not necessarily getting better but as Aviva say – “more than half of the SME’s surveyed locally tell us they predict strong or improved growth in 2014”. As Vince Cable said this week, perhaps we are at the “end of the beginning”.
For property, anyone looking to acquire more or less space in 2014 needs to start their planning and searching with careful preparation. The agency team at Harris Lamb can help. For more information contact one of the team on: 0121 455 9455