Comment: Property rises from the ashes

COMMENT

It has been extraordinary to watch the recovery in commercial property since the depths of the aftermath of the credit crunch.

In March, UK commercial property capital values accelerated once again, rising by 1.6%, and producing year to date gains of nearly 4%. In total return terms, UK property returned 2.2% in March and 5.7% year to date, using IPD monthly data. City office valuations continue to storm ahead, rising 3.8% in March and 7.5% over the first quarter. Shopping centres also performed very well, while industrial is lagging the other sectors. The decline in yields continues apace with the All Property equivalent yield ending Q1 at 7.1%, a 25bp fall over the quarter, according to property services ad...