The turbulence in commodity and equity markets since the turn of the year has intensified concerns about the outlook for commercial property in the UK. And the longer the market dislocations persist, the greater the chances that they will spill over into broader measures of confidence, undermining the economic recovery. But for now at least, we think that the UK’s economic fundamentals look solid. And if we are right that the UK is very unlikely to slip back into a recession, thus triggering a slump in occupier demand, we suspect that property will continue to deliver steady returns.
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