Leading property consultants Jones Lang LaSalle gives its reaction to today’s announcement that the UK economy avoids a triple-dip recession after it grew by 0.3% in the first three months of the year.
Jeremy Richards, head of the Bristol office, said: “Today’s announcement provides a welcome boost to sentiment after a rocky start to 2013. The expectation was for no growth or even a small contraction, the dreaded triple-dip. This shouldn’t allow us to be complacent about the underlying fragility of an economy that has seen almost no expansion since late 2010, but it is early evidence that the recovery may be back on track.
“It is also good news for the UK housing market; forward progress on the economy is good for greater job security, leading to increased residential demand in the future, particularly in a city like Bristol which is a popular place to live and work.”
“Undoubtedly many commentators will be urging caution as we have a long road to recovery ahead. However, we think it’s well worth pausing to take note of some genuinely positive economic news.”
