Reasons for economic optimism says commercial property firm

George Osborne confirmed last week that the UK economy has grown by 0.6% in the second quarter of 2013.

All sectors of the economy have contributed to this growth, with construction in particular experiencing a sharp rise of 0.9% compared with the first quarter of 2013 when output was at its lowest level since 2001.

Jeremy Richards, head of Jones Lang LaSalle’s Bristol office, comments: “It is particularly encouraging to see the construction sector showing strong signs of recovery as it has a major knock-on effect onto other industries.

“This will hopefully give confidence to developers and investors to go ahead with projects which have been mothballed.

“The Bristol property market certainly reinforces these national statistics.

“We’ve seen better levels of activity with Skanska starting work on its office development at 66 Queen Square, Barclays taking space at Bridgewater House and Bristol City Council buying offices at 100 Temple Street.

“Clearly, we cannot be complacent but this does bode well for the future. The pipeline of enquiries is improving, giving us reason for optimism as we move into the second half of this year and into 2014.”