Demand for business property stalls says Rics

The society says the second quarter of 2005 has seen a decline in business demand as companies become more cautious about their financial outlook. But the office market is rising supported by continued expansion in the business services and financial sectors. Retail and industrial property demand though, being more exposed to the fluctuations of the UK economy, is falling. The report says higher interest rates and a sustained slowdown in consumer spending over the last 18 months have contributed to lower demand for retail property. Output from the manufacturing sector has also continued ...