LIMITED business space in the North-East has fuelled demand for commercial property, the Royal Institute of Chartered Surveyors (RICS) has said.
While the sector has suffered across the UK for nearly three years, the region has been bucking the trend.
The latest quarterly RICS commercial property survey showed demand for business premises rose in the final three months of last year.
The upturn suggested a recovery could be on its way for the UK's commercial property sector, which had been declining for the past 11 quarters.
Kevan Carrick, RICS North-East spokesman, said: "The commercial property market in the North-East has been very strong and has not suffered like many parts of the South. There is limited available property in the North-East which has driven up prices and led to heavy competition."
Published: 03/02/2004
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