The headline CIPS construction index fell below 50 in December, indicating a contraction in activity, as the recession hit demand and developers’ concerns about capital values increased. With both commercial and residential values set to fall further, and demand to remain subdued, an improvement in input prices and labour availability will not be enough to prevent a further fall in activity this year.
In view of the wider interest we are also sending this UK Commercial Property Data Response to Clients of our UK Housing Market Service.
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