The latest IPF Consensus Survey showed a significant downgrade for total returns in 2022 and 2023, as higher yields hit capital value forecasts. But with those hikes in yields now happening sooner, total returns for 2024 to 2026 have seen a marginal improvement. Those earlier downgrades mean the consensus has now caught up to our more downbeat view. Indeed, at 5.5% p.a. from 2022-26, the consensus total return forecast is now below our forecast of 6.2% p.a.
Become a member to read more
This is premium content that requires an active Capital Economics subscription to view.
Already a member?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to gain:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services