Maybe just a a bit too early to celebrate. I think the UK real estate sector still has some way to go. Falls expected for the remainder of the year. Rising vacancy in the city of London (currently c.5% for Grade A - predicted to rise to 12% by JLL). Rents falling and incentive packages blowing out.
Retailer insolvencies in abundance (Woolworths etc). Shopping Centre yields increasing based on pessimistic rental outlook.
Capital Economics predict a further 20% fall in house prices in 2009.
Good news is that the worst is over by far and markets have a habit of over shooting and over correcting, so there will probably be a healthy recovery in all of this. Probably in late 2010 is my best guess.
The US is currently behind the UK in the cycle IMO.
uk realestate, page-2
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