"The market downturn currently underway coincides with an economy that is sliding into a sharp recession forcing businesses to focus on cost efficiency."
Occupier demand and enquiries declined at the fastest pace in the survey’s history with retail the worst performing sector for the second consecutive quarter followed by the office and industrial sectors.
The amount of available floor space for occupation also increased at the fastest pace on record. The downturn in the economy has weighed on confidence towards the outlook for lettings activity which hit fresh lows across all three sectors of the market.
This downturn in confidence was most acute in the retail sector where several high profile bankruptcies have occurred, followed by offices and then industrials.
Britain's leading property companies are preparing to raise as much as £2 billion in deeply discounted rights issues to enhance balance sheets and ease pressure on bank loan covenants according to the Times, with Hammerson reported to be first in line.
This downturn in confidence was most acute in the retail sector where several high profile bankruptcies have occurred, followed by offices and then industrials.
Britain's leading property companies are preparing to raise as much as £2 billion in deeply discounted rights issues to enhance balance sheets and ease pressure on bank loan covenants according to the Times, with Hammerson reported to be first in line.
