British commercial property values rose for a third straight month in October, up 1.9 percent, as the recovery in UK real estate market gathers steam, data showed on Friday.
The Investment Property Databank's (IPD) benchmark index had registered a 1.1 percent rise in September, the largest increase in more than three years, as it rebounds from a 44 percent plunge in values since mid 2007.
The data, used as the basis for UKCIG property derivatives market, also showed rents, for office, retail and industrial properties fell by 0.5 percent on average last month, against a 0.64 percent decline in September.
The improvement in UK commercial property prices has led to rising concerns in recent weeks that the market's recovery could be short-lived if prices rise too quickly without growth in the economy and rental rates.
UKCIG Property Investment News, November 2009
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment