Resurgence in Yorkshire property sector
Updated 12:04pm Thursday 17th July 2014 in Business news
THE property sector in Yorkshire is showing a strong resurgence, according to the latest research by insolvency trade body R3.
Figures for June 2014 show that while distress in the sector fell in all regions of England and Wales, Yorkshire was one of the top performers with just 23 per cent of property businesses in the region having a higher than normal risk of insolvency compared with 25% across the UK.
Levels of property distress have dropped inn Yorkshire for the last two months, with June showing a sharper decline of 2.4 per cent," said a spokesman.
William Ballmann, chair of insolvency trade body R3 in Yorkshire and partner at national law firm Gateley LLP, said: “It is good news for the economy in general that the property sector is showing a marked recovery as many other businesses will also benefit from the knock-on effect of this resurgence.
"Despite fears that property in the regions might be continuing to stagnate while London faced a possible housing bubble, these latest figures indicate that the sector is seeing an upward trend across the UK with the North putting in a strong performance."