Demand for retail property in London plummets

London West End

Demand for retail property in London is approaching lows last seen after the 2008 financial crash, according to new research.

The latest UK Commercial Property Market Survey, published by the Royal Institute of Chartered Surveyors (RICS), showed demand for retail property in London fell for the second quarter of the year.

In an indication of the ongoing malaise in the sector, retail was found to be responsible for pulling the overall figure in terms of demand for property down below zero, with a net balance of -61.

The survey also found demand from overseas investors continued to drop during the quarter as Brexit loomed, with respondents reporting -9% growth. This represented the third quarter in a row where overseas investor demand fell.

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