Landmark’s latest Commercial Property Trends Report offers essential insights into Q4 2024. It provides a comprehensive overview of the commercial property market in England, Wales, and Scotland, analysing key transactional indicators such as search order volumes, due diligence activity, planning applications and completion levels.
Large planning applications down for the first time in 2024
Landmark’s Commercial Property Trends Report provides insights into the commercial property transaction pipeline across England, Wales and Scotland.
While Q4 ‘24 bucked several in year trends, it consolidated others. Large-scale planning applications were down 8% in Q4 ‘24 versus Q4 ‘19 – the only quarter to record a negative return in 2024. Small-scale planning volumes continued to struggle, with volumes down by a third compared to Q4 ‘19.
Following a healthy year, the Scottish market stalled slightly in Q4 ‘24, becoming the only quarter not to outstrip pre-Covid search order volumes.
Other key headlines for Q4 ’24 include:
- Search order volumes in England & Wales were down 40% in Q4 ‘24 vs Q4 ‘19 – a 5% decrease on Q3 ‘24 volumes.
- In Scotland, search order volumes were only down 7% in Q4 ‘24 vs Q4 ‘19 – likely due to seasonally low search activity in Dec ‘24.
- Environmental due diligence activity was down 29% in Q4 ’24 compared to Q4 ‘19 Environmental search volumes were down 21% in Q4 ’24 vs Q4 ’19 – a slight improvement on Q3.
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