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08/02/2010
Commercial property growth slows in January |
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Growth of the commercial property sector in the UK saw a slowdown in the last month, according to research by CB Richard Ellis (CBRE).
The real estate advisor's latest monthly index revealed that the rate of capital growth during January 2010 was 0.9 per cent, a decrease from the record 3.3 per cent figure recorded in December 2009.
Offices in central London remained the best performing properties in the country, with total returns of 2.2 per cent, though this also represented a decline from the 4.3 per cent rate of the month prior.
David Wylie, head of economics and forecasting at CBRE, said this moderation of growth was to be expected, but added that those looking to consult a commercial property solicitor over an investment may see improvements later in the year.
He said: "Given the breadth and depth of investor demand currently seen in the market, total returns look set to re-accelerate in the coming months."
This comes after the Royal Institution of Chartered Surveyors last week forecast that London commercial properties may be set to increase in rental value in 2010 due to a lack of supply.
Written by Anna Norton |
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