The market for new construction is wide, ranging from those who wish to develop a small plot of land to those companies who develop major residential estates and commercial sites.
In general, the market for commercial development is less volatile than that for residential development. Residential property is vulnerable to interest rate increases and during times of economic downturn the market can become flat, with fewer people prepared to commit to buying property.
The commercial market is perceived as less volatile. In general, changes to interest rates usually pose fewer problems for businesses, as many lease their premises and their rent is fixed for a set period. At present the market for office property is buoyant, with demand in many areas outstripping supply. Demand for other types of commercial property is also strong, although their are the inevitable regional variations.