Yahoo Finance Property professionals twice as optimistic about the sector compared to last year
Confidence among property professionals about the health of the real estate market has doubled since last year, according to a new survey.
Property investors, developers and agents controlling a combined £400bn of assets were asked about how optimistic they were about the future of UK real estate, with 29pc saying they were feeling optimistic.
In last year’s survey, just before the Brexit vote, only 14pc of respondents said they were feeling optimistic.
The survey, carried out by law firm CMS, also found that just 23pc of respondents were pessimistic about the market, compared to 63pc last year.
Ciaran Carvalho, head of real estate at CMS UK, said: “Optimism about the commercial real estate market remains subdued but the level of pessimism has fallen dramatically and this perhaps indicates that in spite of an ongoing sense of uncertainty around Brexit, investors have recovered from the initial shock of the leave vote and have started to look to the future with greater confidence.”
However, more than 70pc of those who responded to the survey said that they thought the London market was overpriced, while warehouse property came out as the most successful type of property thanks to the boom in internet shopping.
