The value of commercial property has risen for the first time since June 2007, according to property agents CB Richard Ellis. The survey drove shares in the UK's largest property companies higher. The value of offices, retail space and warehouses has fallen by around 45pc since the onset of the credit crisis in 2007. The sector's demise has played a major role in the woes being endured by Britain's biggest banks. The 0.2pc rise recorded for July by CB Richard Ellis is further evidence that the economy may be turning a corner.
Source : The Daily Telegraph page B1 07.08.09.
07 Aug 2009
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Value of commercial property increases
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