Auctions: no blip in falling volumes and rising yields

摘要

Second-quarter figures from the auctions Results Analysis Service (ARAS), compiled by the Investment Property Databank and Jones Lang LaSalle, show a sharp downturn in appetite from private investors for commercial property. Success rates and the amount raised are down (graph 1), and yields are up (graph 2). The avai lability of finance for commercial property became even more restricted during the period, as wider economic pressures were felt by property. Positives include the flight to quality and prime-quality bank sale-and-leaseback lots continuing to perform well. But the bellwether of the property market indicates that the market is set to remain depressed for some time to come, and this is borne out by auction results after the period.