The confidence of London’s small to medium sized property firms has soared to its highest level for two years, with nearly half (47%) expecting to see an uplift in activity.
The positive news comes as part of Lloyds’ Property Matters survey, which found that 44% expect their portfolio to exceed performance expectations. Just half (53%) of those surveyed expect results to stay the same.
With the debate over the future of High Speed Rail 2 hotting up, 25% of firms have said that the project meant they would seek to increase their property portfolio along the proposed route.
Patrick Harrington, relationship manager at Lloyds TSB Commercial Banking in Central London, said: “Confidence in the property sector is growing and is at its highest levels since our inaugural Property Matters survey was conducted in 2011, with a resurgent housing market encouraging confidence for SMEs throughout London.
“As a result it is encouraging to see that 47 per cent of the region’s businesses are predicting an uplift in activity across the sector, with increasing consumer demand for new build properties helping to drive growth in the residential market.
“SMEs in the region that are looking to capitalise on this positive outlook and require financial support need a lender with extensive sector experience, and our team of dedicated relationship managers is able to offer guidance and funding support to firms operating in the residential and commercial property markets in London.
“We utilise the Government’s Funding for Lending scheme to offer discounts of one per cent to all SMEs for the life of their loans, and with our “Lloyds Funding for Lending” offer we have committed £3.3bn to our SME customers since its launch in September 2012.”