21 DATA
PROPERTY MARKET PERFORMANCE All retail capital value growth (%)
-5 -4 -3 -2 -1 0 1 2 3 4
Apr 09
May 09
Jun 09
Jul 09
Aug 09
Sep 09
Source: IPD Monthly Market Segments
Against a backcloth of political uncertainty, capital value growth slowed across all retail property segments in April. Capital values for shopping centres grew by 0.85 per cent, broadly in line with the figure for all retail property (+0.88 per cent). This ‘middle ground’ performance was in contrast to the other two retail property classes, with retail warehousing significantly outpacing standard shops. Stephen Springham, head of retail research at King Sturge commented: “Despite anecdotal evidence of a recovery in occupier
FOOTFALL INDEX The Experian FootFall UK National Index for May 2010
saw a positive year-on-year performance of 0.7 per cent, the fourth consecutive increase in the past four months. As is customary for this time of year the month-on- month footfall saw a decline of 4.7 per cent, a trend which was also mirrored in the Retail Park Index which decreased by 1.1 per cent. The Retail Park Index has highlighted a 1.1 per cent decline on the year. Retail Parks are traditionally a popular destination to shop during Bank Holidays as consumers tend to focus on gardening, DIY or spending hot weekends socialising with a BBQ. However with one bank holiday this May in comparison to two in May last year, the decline was to be expected and with the exceptional temperatures reported in May, consumers may have postponed home improvement chores to make the most of the sunshine.
Anita Manan, senior analyst at Experian, said: “Consumers continue to face financial pressures and with soaring inflation rates, this can only add to their concerns, and retailers will be conscious of this and continuing to look at ways of enticing customers in store. “This month has seen retailers heavily promoting around the World Cup, an opportunity that almost every retailer will want to maximise, offering an array of England merchandise to attract footfall. With the World Cup taking place this month, football fever will be spreading across the nation and it will be interesting to see the impact of the World Cup Football on high street footfall.”
www.shopping-centre.co.uk June 2010 SHOPPING CENTRE
Oct 09
Nov 09
Dec 09
Jan 10
Feb 10
Mar 10
Apr 10
-1.0 -0.8 -0.6 -0.4 -0.2 -1 0
Apr 09
May 09
Jun 09
Jul 09
Aug 09
Sep 09
Source: IPD Monthly Market Segments
markets, this has yet to filter through to retail rental performance. Indeed, the decline in shopping centre rents in April (-0.63 per cent) was the second steepest since July 2009, making it the worst performing property segment by some margin. Amongst the other property segments the picture was somewhat brighter, especially in standard shops in the South East, where rents were static – the first time any of the property markets didn’t experience month-on-month declines since October 2008.”
All retail rental value growth (%)
All retail
Oct 09
Nov 09
Dec 09
Shopping centres
Jan 10
Feb 10
Mar 10
Apr 10
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