Lloyds Banking Group Publishes New Property Survey

Survey performed by Lloyds Banking Group revealed that almost 50% of professionals working in the property sector do not expect the British housing market to show any significant signs of improvement earlier than in spring 2011.

The report, Commercial Property Confidence Monitor, showed that 46% of property experts do not expect any changes, whereas 25% think that the market will further decline.

Commenting on the findings of the survey, Mr. Dakin, head of property business support unit at Lloyds Banking Group, said that commercial property values have barely improved, whereas consumer confidence fell.

Lloyds’ survey showed that fund managers were the ones who are less optimistic about the prospects of the UK property market. As such, 56% of them expect low activity on the market for the next 3-6 months. Also, 30% of fund managers think that the value of their clients’ portfolios will fall in quarter 4.

Lloyds Banking Group based its survey on the interviews with 450 property experts, which were carried over the phone in the time period between 19.07. and 20.08.2010