Outflows from unlisted UK real estate funds doubled in the second quarter of 2007, according to new research released on Thursday by the Association of Real Estate Funds (AREF). Redemptions rose from £324 mln (EUR 478 mln) in the first quarter to £ 631 mln in the second quarter of the year. This figure marks an increase of more than 50% on the same period last year.

Outflows from unlisted UK real estate funds doubled in the second quarter of 2007, according to new research released on Thursday by the Association of Real Estate Funds (AREF). Redemptions rose from £324 mln (EUR 478 mln) in the first quarter to £ 631 mln in the second quarter of the year. This figure marks an increase of more than 50% on the same period last year.

Inflows, however, came in at £ 1.1 bn in the second quarter of 2007, data from AREF shows. This figure is under the volumes registered last year, but still higher than the historical average. AREF, which uses Investment Property Databank data, covers 63 pooled property funds with a combined value of £ 44.2 bn in June 2007.