Commercial market 'showing signs of life'

26 January 2010

Written by Michael Aglony

Commercial mortgage holders may be seen more life in the market as the UK exits the recession.

This is the view of the Guardian, which today took a look at the winners and losers of the economic downturn as it was announced that Britain is officially out of the recession.

It was noted that there are "signs of life in the commercial property market with average values up nine per cent since July".

This is in sharp contrast to valuations of commercial property during the first year of the recession, which dropped 40 per cent.

In the property market overall, prices unexpectedly rose last year "as buyers fought over a small number of properties".

Chief executive of Citizens Advice David Harker warned that the impacts of the recession could be seen for a long time and that there are still some people suffering from the previous credit crunch.

However, he added that today's figures are "obviously good news" for Britain.

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