Property businesses in Yorkshire have strong intentions to keep investing, according to a recent survey by Lloyds TSB Commercial.
Lloyds says that although the intention to invest is positive news in an otherwise flat property market, small to medium-sized property businesses in Yorkshire are continuing to face challenges.
These include lack of confidence around issues such as local planning policy, which is continuing to affect their appetite to invest.
The report revealed that three quarters of small and medium sized property businesses in Yorkshire expect no shift in values over the next three to six months, compared with under two thirds of firms nationwide.
Ken Davies, relationship director for Lloyds TSB Commercial in Yorkshire, said: “It continues to be a challenging time for those operating in the property sector in Yorkshire.
“It is welcome news that 62 per cent of SMEs in the region plan to maintain their financial commitment over the next three to six months. The commercial sector and operators in residential also revealed an intention to invest for the future.
“SMEs continue to cite the challenging UK economy and local planning policy issues as influencing their decisions to invest. We continue to work closely with our customers and have a team of dedicated property managers focused on supporting and advising businesses operating in the residential and commercial sectors.”