12 March 2004
Lincoln property market buoyancy set to continue

The extreme buoyancy of the property sector seen in the last twelve months seems set to continue into the year ahead, according to chartered surveyors and property consultants, Hodgson Elkington.

"All market sectors are seeing good levels of enquiries and rents are still increasing.  The retail sector is particularly active. There are hardly any voids in the city centre and any units that do come to the market are usually hotly contested," said Daniel Race, partner at Hodgson Elkington.

"The freehold market remains very strong and with a number of buyers chasing each property good prices are being achieved.  Investment demand is exceptionally good  but limited supply is hampering the market and a scarcity of good sites is pushing residential development land values to new levels," said Mr Race.

"A notable trend is the urgency of occupier's property requirements.  In a rapidly moving market agents and solicitors are having to move quickly to satisfy this.

"The university continues to grow with further development underway and student accommodation schemes under construction to provide more accommodation for the new intake in September.  Graduate retention is seen as very important and space provided adjacent the university for small businesses is proving successful," according to Mr Race.

The proposals for the Eastern Bypass, currently undergoing public consultation and are generating a great interest and a lot of support, will undoubtedly take considerable pressure off the City centre by removing through traffic but it is a shame that it will not provide a complete bypass circling the city," added Mr Race.

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