North-west bears brunt of empty shops with vacancy rate of 17.3% compared to 12.2% average with small towns performing best
Retailers in the north and south of Britain face dramatically different conditions despite a slight fall in the proportion of empty shops across the country last year, new data released shows.
Shop vacancy rates fell below 14% for the first time since July 2010 to 13.9% in December last year, according to the latest figures from the Local Data Company (LDC). That compares to 14.6% in February 2012, suggesting that an improving economy and widespread efforts to help town centres are paying off.
Andrew Haldane says there is hope next property cycle will be different, and welcomes discussion on more realistic valuations
The prospect of decades of damaging property booms and busts coming to an end has been raised thanks to proactive policymakers and more realistic valuations from the real estate industry, a top Bank of England official has said.