There was a notable shift in confidence within the property industry between Q2 and Q3, according to the latest Estates Gazette Sentiment Survey.
The survey of more than 800 real estate professionals showed a marked improvement in indicator scores, from -1.25 in Q2 to 8.25 by the end of September.
The upturn in confidence was led by continuing growth in the residential sector, where more than half of those surveyed said they thought demand and investment activity would pick up over the next 12 months.
There was a distinct uplift in mood in the industrial sector, with close to one-third of respondents expecting to see more demand for space over the coming year and an increase in buying activity. Whereas in Q2 respondents expected rents and investment values to decline, this has now shifted to a marginal increase.
The notable downer on the industry continues to be the retail and leisure sector, with a third of respondents saying that they felt less optimistic.
An anticipated rise in administrations and receiverships in the retail sector added to the pessimism.
However, there was a glimmer of hope, with the percentage of respondents expecting retail values to fall declining from 42% in Q2 to 34%.
Read more from the Estates Gazette Sentiment Survey >>
emily.wright@estatesgazette.com
