Business confidence in both the UK residential and commercial property sectors has crashed in the last couple of years, according to services firm Smith & Williamson. The claim is based on a survey of 187 senior property industry executives.
Business confidence in both the UK residential and commercial property sectors has crashed in the last couple of years, according to services firm Smith & Williamson. The claim is based on a survey of 187 senior property industry executives.
The key findings of the research were that the performance of the UK economy and raising finance are seen as the most important issues facing the industry. In addition, business confidence in both the residential and commercial property sectors has plummeted in the last couple of years from 86% to 7% and 91% to 18% respectively.
Despite the focus in the international real estate community on the need to be green, Smith & Williamson said the survey also indicated that environmental issues were not a priority and many respondents were not aware of the available tax reliefs. At the same time, executives said that tax remained a significant influence on business decisions.
The survey represents the views of property investors, traders and developers, along with chartered surveyors, architects, lawyers and other professionals and service providers in the property industry.
