Property Snapshot September 2008

Published: August 2008
Source/Company: Colliers International

Abstract:
Digesting bad news on a regular basis is wearing, so I will focus on a few positive notes. The US economy showed reasonable growth over the last quarter and surprised the markets. Should this recovery prove enduring it would be encouraging as the UK economy tends to follow, albeit with some considerable delay.

Conversations over the last couple of weeks with bankers and property agents leaves the impression that even if deals are not being done in any great volume that investment companies appear to be gearing up for renewed activity. How far they will get in the absence of large lot bank lending is another question.

Market sentiment appears to be shifting slightly as property yields begin to look interesting, especially in contrast to the equity markets. Sentiment though remains tempered by occupier market uncertainty and it is too soon to say whether positive sentiment is founded on property market reality, or whether it is merely the seasonal exuberance of investment surveyors returning from the summer holiday ready to do business again. September and October will be telling.

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