BUSINESS experts at County Hall Worcester will this month launch their annual report on Worcestershire's commercial property market - a key indicator of the region's economic success.

The report compares the sales, supply and demand for premises by Worcestershire's Property Service users in 2005/06 with the previous year.

Headline figures are expected to reveal significant growth in the county's economy. The report will highlight that, among WPS users in 2005/06, that the demand for office space rose by 19 per cent, demand for retail premises also increased, by 11 per cent and the total square footage of business properties sold rose by 109 per cent.

The report will be unveiled in full at County Hall later this month. However, the county council-run property service has welcomed the initial findings.

Geoff Palmer, who heads up the team, said: "These figures, and other initial findings of the report, confirm what we have seen over the past year - that Worcestershire has a very strong economy and business is booming.

"We anticipated that the changes to the pension fund rules that came into force in April would make a significant difference to property sales and so it proved, with sales more than doubling.

"But, otherwise, we have seen a gradual improvement in some of the key areas, such as the demand for office space and retail outlets, which augurs very well for the local economy. We will have to wait and see what the finalised report shows but we have some really exciting developments in the county, such as those within the Central Technology Belt, and we are optimistic that this year will be just as strong."

Worcestershire Property Service is operated by Worcestershire County Coun-cil and offers a free, confidential search facility for businesses seeking commercial premises in the county.

Businesses wishing to contact the service should call 01905 766375, or log onto www.worcestershire.gov.uk/business.