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Mixed picture for commercial property

Growth in the financial services sector helped underpin demand for commercial property, figures published today by the Royal Institution of Chartered Surveyors showed.
But a slowdown in consumer spending hit the retail market which suffered from a drop in confidence with 38 per cent of chartered surveyors expecting a further downturn in demand.

Across the UK, 14 per cent more chartered surveyors saw a rise in demand for office space than a fall during the third quarter of 2005.

In London the picture was even more pronounced with 25 per cent of surveyors seeing a rise in demand for office space while a hefty 46 per cent saw a fall in demand for retail premises.

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