UK Commercial Recovery Losing Steam

Growth in British commercial property prices slowed for a second month in February, a closely-watched index showed on Thursday, denting a recovery seen in the last quarter of 2016 following Britain’s vote to leave the European Union.

The value of British commercial property assets grew 0.17 percent in February compared with January, according to MSCI’s (MSCI.N) IPD real estate index, overshadowing largely stable rental growth, with total returns falling to 0.625 percent in February from 0.71 percent in January.

The IPD real estate index is one of Britain’s most widely watched commercial real estate data surveys, and tracks about 10.5 percent of professionally managed British property across all sectors, including retail and office property.

Reuters

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.