The number of UK commercial properties sold at auction in the first quarter of 2007 was down 26% on sales in the fourth quarter of 2006. According to figures from the UK's Royal Institute of Chartered Surveyors (RICS), demand for commercial properties has dampened due to a sharp rise in bond yields and a strong equity markets performance.
The number of UK commercial properties sold at auction in the first quarter of 2007 was down 26% on sales in the fourth quarter of 2006. According to figures from the UK's Royal Institute of Chartered Surveyors (RICS), demand for commercial properties has dampened due to a sharp rise in bond yields and a strong equity markets performance.
RICS senior economist Oliver Gilmartin said: 'The bull market run in commercial properties is coming to an end. Fewer sales at auction reflects investor caution for commercial property, as yields have fallen below those of more liquid asset classes.'
