May 5 (Bloomberg) -- The rate of decline in demand for U.K. office and retail space eased in the first quarter, the Royal Institution of Chartered Surveyors said, suggesting record-low interest rates are helping shore up the market.
The net balances for enquiries, demand and confidence were the least negative in a year with the industrial sector the most improved, the Coventry, England-based association of real-estate professionals said today in a report.
“The improvement in the market offers some hope that aggressive cuts in monetary policy have provided some limited support for the commercial markets,” RICS said.
A net balance of 40 percent of surveyors reported a drop in new sales and lettings to occupiers, compared with 71 percent in the fourth quarter.
