Savills January 2013 survey shows that refurbishment activity is at its highest in three years14th February 2013

Savills' January Total Commercial Development Activity Index has revealed that the total commercial activity in the UK has expanded only slightly and very slowly, despite rising for the fifth successive month.

While commercial development in the private sector rose, there was a decrease in public sector work - the fastest recorded since August 2012.

Activity in Retail and Leisure fell in both the private and public sectors.

Refurbishment generated the biggest rise of 17.2 per cent in January - the highest in three years. 

Commenting on the January survey, Michael Pillow, Head of Building Consultancy at Savills said: "With the growth of refurbishment activity at its highest in three years, and confidence in the future at its strongest level since the start of 2010, it is clear that developers have started 2013 in a positive frame of mind. The challenge this year will be retaining that confidence in the face of the inevitable bouncy recovery." 

Nick Ireland, director of building consultancy at Savills Southampton said: “The beginning of year month on month increase in private sector development activity for a fifth consecutive month has been noticed in Southampton, as it has been seen in the whole of the UK. We expect to see a further bumpy but gentle recovery over 2013, in line with that expected in the UK as a whole.”