CBRE report on UK commercial property price increase in July
CB Richard Ellis has announced that UK commercial property prices have risen by 0.2% in July – the first positive figure since the market peak in June 2007.
According to news source Reuters, CBRE’s head of economics and forecasting, David Wylie, said:
“This month’s monthly index results reveal the undoubted sea-change in investor sentiment that has taken place over the past month.”
Wylie also adds: “The strong appetite for prime assets appears to have broadened out sufficiently to allow a stabilisation and improvement in the wider market. Although concerns remain over the near-term prospects for secondary assets with weaker covenants, this month’s figures seem to confirm that investors have awoken to what is now widely being seen as a once in a generation buying opportunity.”
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