The best that can be said of the falling valuations in the commercial property market to date is that it has shown recent signs of slowing down. Well good old London Town has been like a magnet to our overseas investors and a recent survey of the commercial property sales in London has shown that sales have more than doubled to £1.43 billion in the second quarter.
The West End saw commercial property sales up by 250% in the second quarter and Docklands and the City weighed in with an increase in sales of 100%.Is this the new age of growth or just a blip, and we are back to doom and gloom in the third quarter. Having said that what the position would be if we had reasonable access to commercial mortgages, commercial finance and business loans, giving our own businesses the opportunity to take advantage of the buyers market.
It is very reassuring that our friends from the continent find London so attractive as a long term investment, and London not the rest of Europe is the place to be with property valuations providing value for money and excellent yields.
The jury is still out on how much longer we will have to wait before we can say we are in recovery, but the market indicates next spring before we can expect to see a confident return to a Bull market in commercial property terms. The banks will have to open the doors to let in a little more day light, unshackle the chains to the vault door and we might just see them lending again in the areas that really count to aid the recovery of the economy, commercial mortgages, commercial finance, and business loans, the holy grail to the world of business.
Michael Alexander acommercialmortgage4you.co.uk
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