Property valuation scores fell further in Q3 as rises in alternative asset yields outweighed the marginal increase in all-property yields, but alternative asset yields have dropped back in Q4 to-date, meaning we may have reached a trough. The industrial sector looked the most stretched in Q3, though it still has the best rental growth prospects for the next two years. At a metro level, the Big 6 were least overvalued across the office and apartment markets.
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