Commercial property prices face further price falls, a study by NMG research has revealed.
Its survey for Reita, an impartial source of market data on property investment, found that almost seven in ten independent financial advisors (IFAs) predicted prices will dip 15 per cent.
According to the poll, 35 per cent of advisors believe commercial property will not recover before 2010 and 19 per cent said it will be later still.
However, the analysis showed IFAs still rated commercial property. It noted that the “majority of IFAs value property shares for income despite continued pessimism on price recovery”.
A separate survey has been launched to gather the opinions of 400,000 office workers. The online poll by midtownshopping.co.uk hopes to help improve the quality of retail facilities, bars and restaurants in London’s Midtown.
The area is increasingly popular with both social and financial firms and includes the new developments around King’s Cross Station.