Commercial Development Activity fell at the fastest rate since June 2009

Key findings

• Latest data from Savills indicated that UK commercial development activity declined in August at the sharpest rate for fourteen months.
• This reflected a further steep fall in public sector development, alongside a decrease in private sector activity for the first time since July 2009.
• Almost 28% of commercial developers reported an overall fall in activity during August, compared to around 15% that signalled a rise.
• As a result, the Total Commercial Development Activity Index - a net balance monitoring the overall performance of the UK commercial property sector - posted -13.3% in August, down from +0.6% in July and well below the average for the year to date (+0.7%).