Demand for office property in the UK has grown at the fastest rate in nine months, according to the Royal Institution of Chartered Surveyors (RICS).

RICS said survey findings for the last three months of 2005 signal a recovery in the office sector and leave stagnant retail and industrial markets trailing.

Rents in the office sector are expected to rise, with confidence at its highest in four years.

"Sharply rising commercial property values have been encouraging developers to take more risks," said RICS. "Investors are showing a continued willingness to buy new commercial space, especially prime location, investment grade properties.

RICS spokesman Ian McRae added: "Development activity is up across the country, which is unusual at such an early stage of a recovery in demand. Banks are still willing to back commercial property development, despite the huge run-up in lending over the past decade. Banking exposure in this area is rising sharply compared to other sectors of the economy.

"Investors generally have a high level of confidence as the downturn in rents and activity since the dot com highs has been moderate compared to previous commercial property slumps. So long as the economic climate remains benign, there is no reason to expect a return to the boom and bust cycles of the past."