AVERAGE business property prices increased significantly during 2014 across all sectors of industry, a Winchester firm has claimed.

Specialist property consultant Christie and Co said research had shown a dramatic rise in prices by an average of 10.8 per cent across a range of sectors within the region’s economy.

At their annual Business Outlook event last Thursday, regional director Ed Bellfield said the country’s economic improvement had led to an increase in confidence causing what could only be described as “a buying frenzy” in some sectors.

He said there were many examples of businesses selling above their asking price. “In our region, trading performance has improved across the majority of the sectors Christie and Co operates in, particularly those that rely on discretionary spend. Those businesses that are at the top of their game for quality, service and operational efficiency have unsurprisingly come through the recession better with the highest improvements in trading performance.”

He added: “In the Winchester office we are seeing a profusion of buyers looking to acquire businesses in our sectors so the challenge in 2015 will be to meet the growing demand.”

Average price movements across the hotel industry had increased by 17.2 per cent in 2014, compared to 5.7 per cent in 2013.

Prices for pubs had risen by 8.6 per cent, compared with 3.3 percent the previous year, while the restaurant and retail sectors had seen a 11.1 per cent rise and a 11.3 per cent consecutively.