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Falling bond yields buoy property valuations

A second consecutive quarter of sharp falls in bond yields has driven improved valuations in 90 of the 93 markets that we cover. As a result, less than a third of all markets look overvalued, the lowest proportion since the end of 2017. With bond yields having dropped further since the end of Q2 and dividend yields having only risen slightly, property valuations are set to improve again in Q3.

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