Wales has performed slightly above the average for both retail and industrial absorption over the last 12 months – with 2.7 years’ worth of stock currently available based on current rates of active demand for each sector, against nationwide averages of 2.8 years.
In the industrial sector, this demand level has been met with a response from developers, who have gained permission for almost 1.8m sq ft of new space over the last twelve months – up 16% on the previous year, and ahead of the national average rise in new permissions for industrial supply.
In retail, however, permissions have followed the national trend of decreasing year-on-year, with 67% less space getting through the planning system over the last twelve months compared to the previous twelve.
