London heads UK commercial property upswing


The UK commercial property market is expected to enjoy a strong revival of fortunes between now and the end of the year, say experts analysing the International Property Databank figures for September.

Prime business property in London has so far been the biggest beneficiary of this reversal, but limited availability, combined with better-than-expected unemployment figures, have led analysts to suggest that the overall predictions they made for returns by the end of the year might have been out by as much as 10 percent.

Last month the IPD stated that the commercial property market had bottomed out in July, less than a year since the collapse of Lehman Brothers sent markets around the world into a spiral.

IPD’s co-founding director stated: “Since that profound shock, commercial property has delivered record losses, but has at least traced a relatively stable path towards this first tiny sign of recovery.”