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Commercial property values in London 'recovering'



The value of commercial properties in London is recovering faster than anticipated, it has been revealed.

New research from Cluttons shows that capital values have risen by 11 per cent since July 2009, Property Week News reports.

The firm - which specialises in chartered surveying and property consultancy and has roots tracing back to 1765 - suggested that this is the first growth for more than two years, but the market is still 38 per cent below where it stood in June 2007.

Partner and head of valuation and investment at Cluttons John Barrett said: "The first quarter of 2010 should be similarly positive, as current buying activity is being fuelled by increased allocations to property by both institutions and private investors."

However, the "sharp recovery" of the industry witnessed over the course of the last six months should not lead people to ignore the fragility that still underlies most of the occupier markets, the expert went on to warn.
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