The outcome of the vote has dented the outlook for occupier demand, and as a result we have cut our all-property rental value growth forecasts for the next two years, from 2.9% and 2.4% respectively, to 2.5% and 2%. That said, with interest rates expected to be lower for longer, we have made no adjustments to our yield profile. We expect capital value growth of 2.9% this year and 1% in 2017.
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