We doubt the sell-off in gilts following the Budget will gather momentum and cause another step down in commercial property values. However, given the current narrow spread between risk-free interest rates and property yields, the latter are likely to come under some upward pressure. That means the already-weak recovery in capital values we expected is now set to be even slower.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.