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Commercial property insurance customers 'see slow but steady growth'
08 Jul 2010
Posted by Michael Brown
Britain's commercial property insurance policyholders may be interested to learn that the market recovery lost pace again in June, according to Reuters, though the sector as a whole is still expanding.
The news agency reported that the UK's commercial property recovery slowed down last month, with price growth stalling for the third month in a row as economic uncertainty holds back tenant demand.
In its latest findings, however, CB Richard Ellis, the world's largest property advisors, highlighted a total rise in property values for the year so far of 6.8 per cent, which should come as a relief to commercial property investors.
Nick Parker, an economics and investment analyst for the firm, said: "The property investment market is clearly slowing, with investors turning more cautious and yields flattening. Outside central London, occupier markets remain fragile."
The Investors Chronicle reported last week that the stalling of property price growth in the UK could actually be good news for landlords, as consumers switch from buying property to renting, which could push up rent amounts.
