RICS UK Economic Brief June 2008
Article Type: Newsbriefs From: Structural Survey, Volume 26, Issue 5
Keywords: Economy, Property, Construction, Housing
Inflation is once again grabbing the headlines in the UK. On the government’s preferred measure, it rose to 3 per cent in the year to April, a whisker away from the level which would have prompted the Governor of the Bank of England to write a letter of explanation to the Chancellor. Individual sector headlines are as follows:
Commercial property. The latest RICS global commercial property shows that growth in tenant demand turned negative in Q1 2008 for the first time in over four years on weaker activity across much of the developed world.
Construction. The construction sector is feeling the impact of the downturn across both residential and commercial property sectors.
Residential property. Sentiment in the housing market deteriorated further in April according to the latest RICS Housing Market Survey.
