Fancy a drink? It seems quite a few of you outside London having been enjoying more than 'just the one'.
It's not often these days that you hear regional markets are out performing the London market. But Coffer Peach's tracker looking at the pub and restaurant growth shows that June monthly sales outside the M25 (which is what it calls the rest of the country) are up 5.5% compared to 3% inside the M25.
Coffer Peach released its Business Tracker today but have given EG the regional breakdown. It says that like for like sales growth is up 2.1% outside the M25 compared to a drop of 0.8% in London.
Now, before everyone gets carried away, the MAT (or moving annual target figure) is better in London than outside (2.4% versus 1.5% like for like sales growth compared to the previous 12 months).
Generally, Davis Coffer Lyons says that drink-led pubs saw a healthy rise in like-for-like sales while casual restaurant chains suffered a corresponding fall in June. Now, we know some of the regional occupier markets are really suffering, and we wouldn't want to say all you local agents had turned to drink, but it is a bit of a coincidence....
Picture by Bernt Rostad on Flickr