INDUSTRY NEWS

IFAs predict commercial property recovery ‘this year’

Four in ten Independent Financial Advisors (IFAs) expect the commercial property market to begin its recovery this year.

Trade body, REITA, has reported their opinions are confused as to when the expected turnaround will happen – 42 per cent believe it will not start until next year, ten per cent feel it is already happening and a further one in ten said it will not be until 2010.

"Clearly advisers are far more positive than the ‘experts’ about the outlook for property this year and perhaps overlooking the potential double-dip effect that the experts fear," it found.

REITA was created by the Real Estate Investment Trusts (REITs) and the Quoted Property Group – a group established with the support of the British Property Federation.

It said advisors’ views were "very interesting", especially "in their diversity not just from each other but also from the views of other industry commentators".

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