Britain’s shop vacancy rate in May continued to improve and reached its lowest level since June 2010, according to figures from the Local Data Company.
Britain’s shop vacancy rate has decreased over the month by a further 0.1% to 13.4%. This is a marked improvement from a year ago when the rate was 14.1%.
Local Data Company director Matthew Hopkinson commented: “The improving vacancy rate continues to show that empty shops are being reoccupied up and down the country. Within town centres alone this equates to over 200 new businesses a month.”
He added: “The improving vacancy rate reflects a more positive economic outlook for consumers in terms of price deflation, wage increases and continued interest rates at an all-time low. These factors are highly volatile so it would be wrong to call the market on vacancy rates, as history shows much can change in a very short space of time.”
The graphic demonstrates the quarterly vacancy rate percentage since 2008.