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IPF Consensus Forecasts (May)

The latest IPF Consensus Survey showed another upgrade to forecasts for total returns in 2023, driven by improvements to both the rental and capital value outlook. A better-than-expected start to the year will be behind that upgrade. However, since the survey, stubbornly high inflation has led to a jump in interest rates, so the consensus view for total returns of 1.5% in 2023 is now perhaps too rosy.

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