Harlow Market Overview

September 2008

The ‘credit crunch’ and the continuing doubts about the strength of the economy have taken their toll on the M11 corridor and Harlow markets.

The difficulties in obtaining mortgage finance have finally slackened occupiers’ thirst for freehold property, and as a result of which we have witnessed a substantial improvement in demand for leasehold product, with the ratio of freehold to leasehold requirements changing from approximately 2:1 last year to circa 1:2 this year.

And whilst the overall number of enquires we have received this year has significantly reduced compared to 2007, those applicants that are contacting us tend to be of a serious nature and transactions are still taking place.

The recent high levels of take-up has resulted in reduced stock both in the office and industrial sectors and this is a significant contributory factor in the generally stable level of headline rental values witnessed so far this year.

However this is tempered by landlords being increasingly willing to offer larger incentives in the form of augmented rent free periods.  

So on balance, whilst demand across the board is down on previous years, the reduced availability of both leasehold and freehold product is ensuring that that market remains active albeit at a reduced level to that which we have experienced in recent years.

Note: This is only a summary, see below to view the full article.

View this article in full or download the full article as a PDF file.
Complete this short form and press submit.

What next:

News