The Jones Lang LaSalle overall property index was up 2.9% in the third quarter of 2007, slightly higher than the 2.7% booked in the second quarter. In the nine and twelve months to end-September, the index rose 8.7% and 14% respectively. Capital values increased by 1.9% in the third quarter and by 5.5% I the first nine months.
The Jones Lang LaSalle overall property index was up 2.9% in the third quarter of 2007, slightly higher than the 2.7% booked in the second quarter. In the nine and twelve months to end-September, the index rose 8.7% and 14% respectively. Capital values increased by 1.9% in the third quarter and by 5.5% I the first nine months.
The industrial sector booked the largest capital value increase, rising by 2.3% in the third quarter and 11.3 in the first nine months. The retail rector lagged slightly, booking a capital value increase of 2.1% in the third quarter, followed by the office sector, up 1.7% for the same period.
Overall rental values were up 1.2% in the third quarter and 3.8% for the first nine months. Industrial rents were unchanged, while the office and retail sectors saw rental increases of 1.6% and 1.2% respectively.
Income levels were virtually unchanged, rising a mere 0.3% in the third quarter, but a total of 2.2% in the first nine months. Current income yields on property currently stand at an average of 3.5%, with industrial property in the lead on 5.1%, followed by offices on 3.7% and retail on 2.9%.
