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Two key indicators of the commercial property market have published conflicting results, Property Week has reported.
CB Richard Ellis’ monthly index showed improved figures, while Jones Lang LaSalle’s (JLL) commercial property auction showed a reduced success rate.
The CBRE index showed a fall in capital values of 1.2 per cent, compared to a fall of 1.3 per cent in February. The JLL auction’s rate fell from 92 per cent in January to 70 per cent.
Auctioneer, Richard Auterac explained to the magazine: "It depends on if you think auctions are behind or ahead of the market or lags behind."
He concluded if auctions are six months ahead of the wider investment market, then the results could "be an indication that property will undergo a ‘double dip’ in September".
Commercial property values have suffered as a result of global credit problems, although London still attracts investment funds looking to invest in the capital.