Demand for commercial mortgages could be on the increase

06 May 2011

Written by Jenny Barrett

More people may be looking for commercial mortgages as research has found demand for office space is rising across the UK.

The Royal Institution of Chartered Surveyors' latest UK Commercial Market Survey showed that the business real estate sector in London has seen a particularly significant recovery.

In the first quarter, ten per cent more respondents to the body's poll said they saw a rise in demand for office space across the UK than those who saw a fall.

In the capital, the increase was particularly dramatic, with 43 per cent more surveyors seeing an increase rather than a fall in demand.

"London still appears to be where most of the activity, whether in the investment or occupiers markets, is taking place," chief economist at the organisation Simon Rubinsohn commented.

Indeed, as many as 43 per cent more respondents to the body's study said they saw an increase in demand for office space rather than a fall in the city.

However, Mr Rubinsohn added that the results of the survey also imply that the sector is picking up outside of the capital.

This comes after managing director of Phoebus Software Paul Hunt wrote in an article for Mortgage Strategy that an increase in hiring among lenders of commercial property loans suggests that the industry could be seeing a recovery.

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