The commercial property industry in the UK has recorded 12 consecutive months of capital growth, a new market measurement has revealed.
Research carried out by the Investment Property Databank (IPD) shows that the market has grown by 15.5 per cent in a continuous climb since August 2009. It is the first time that 12 months of continuous growth has been achieved since June 2007 and makes very welcome news for the industry.
Despite last month’s growth only measuring 0.2 per cent, it is the same level of increase that was recorded when the recovery first got underway.
Research manager for IPD, Mark Clacy-Jones, said the figure was indicative of a significantly brightening future for the commercial property industry.
“The rebound to date has delivered capital appreciation at more than twice the growth rate of the final 12 months of the last property bull run, which puts into context just how far markets have recovered,” he said.
The sector that demonstrated the highest recovery was retail, which managed to register 18.6 per cent growth since the lowest point, while office property showed a rise of 13.8 per cent. IPD has also revealed that there had been a quarterly appreciation of 1.9 per cent in the commercial property sector in the second quarter this year.