Bristol most consistent region for commercial property
New data released by Radius Data Exchanges shows that Bristol is the most consistent region for commercial property. Consistency is calculated by comparing the least active year since 2008, with the average of the last ten years. In Bristol, the least active year for commercial property was 2009 when commercial property takeup was 830,949 square feet, which was 26.2% below the annual average of 1.1 million square feet. 2009 was during the financial crisis, which is why it was the worst year for commercial property.
In Leeds, the difference between the least active year and the average was 39.3% and in Manchester, 36.4%.
The data for Bristol reflects the economy of the city, which attracts technology, media, telecommunication, financial, engineering and scientific companies. These sectors are unlikely to be adversely affected by Brexit, which mean that the long-term commercial future for Bristol is optimistic. Bristol has the highest life quality score for English cities in the Cities of Influence report. There are around 80 people a week moving from Bristol from London.
When investors are looking at commercial property to buy, before applying for a commercial mortgage, they need to look at the state of the local economy as this can affect the long-term future of their investment. The Radius Data Exchange report and the Cities of Influence report provide important data that can be used to predict how a city and its commercial property sector are likely to perform in the next few years.