Great Portland has announced a rise in the value of its commercial development assets for the first quarter of 2010, but predicts a decline in the short-term.
A major
property investment firm has announced positive growth in its asset values, but fears remain over the future of the sector.
Great Portland has seen the value of its
commercial development assets rise by 4.6 per cent in the second quarter of 2010.
However, the firm's chief executive Toby Courtauld still fears that property prices will decline in the short term, perhaps repeating the situation seen in 1994 when the post-recession surge in property prices quickly ground to a halt.
He commented: "London's property investment markets continued to recover during the quarter although at a lesser pace.
"We expect this less urgent mood to persist for the balance of the year."
Mr Courtauld did go on to say however that there is likely to be a shortage of space in London, which will drive up values again.
Posted by Tess Nelson.
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