DESPITE signs that the economy is slowing, occupiers of commercial property expect to expand their property portfolios on the back of continuing growth in output and employment over the next six months, the CBI/GVA Grimley Corporate Real Estate Survey reveals.

The twice-yearly survey, conducted between 24 October and 14 November, reveals 43 per cent of firms expect to expand their amount of property space in the next six months, while 22 per cent plan to reduce it. This balance of +21 per cent is just below the rate occupiers expanded their space over the last six months (a balance of +22%).

However, firms in extraction and manufacturing sectors saw an overall contraction in property holdings over the last half-year period and expect to continue reducing their property space in the next six months.

Banking, finance and insurance firms also expect to reduce their property slightly.