INDUSTRY NEWS

London property investment rises slowly

Investment in London property rose in the second quarter of 2009, but overall figures are still low compared to earlier recent periods, a new report shows. Q2 investment stands at £1.7 billion, against £1.3 billion for Q1.

The majority of this £3 billion half-year total was invested in central London office space, which accounts for over a third of all UK property investment.

However, the sum still pales when compared to the previous 6-monthly figures of £6.1 billion for the first half of 2008 and even £3.9 billion for the second half.

Nevertheless, analysts believe that the slight quarter-on-quarter rise indicates growing confidence in the sector and that the worst of the financial crisis is over.

Overall, £8.3 billion of property investment was made in the UK in the first half of 2009, against £12.9 and £8.9 billion in the first and second halves of 2008.

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