The headline Total Commercial Development Activity Index – a net balance monitoring the overall performance of the UK commercial property sector – continued to signal growth of commercial work in January.
That said, the rate of expansion eased at the start of 2015, with the net balance deteriorating to a 20-month low of +10.5% (from +19.8%).
The overall slowdown was mainly driven by a stagnation in public sector activity, while private sector projects rose at a weaker pace.
Lower net balances were registered in eight of the nine broad areas monitored, with contractions evident in the three surveyed public sectors.
Source : Savills