Commercial property values rose for the first time since the market peaked two years ago, according to the latest data from property agents CB Richard Ellis.
Real-estate prices jumped from a contraction of 0.8% in June to a rise of 0.2% in July, with the value of retail warehouses seeing the biggest climb, up 1.2%.
Although rental values are still falling across all sectors, many property firms are reportedly feeling optimistic about the upswing in prices and are raising funds to snap up properties where the values have fallen sharply since the onset of the credit crisis.
David Wylie, the head of economics and forecasting at CB Richard Ellis, said: “The monthly index results reveal the undoubted sea-change in sentiment that has taken place over the past month. Investors have awoken to what is now widely being seen as a once-in-a-generation buying opportunity.”
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