Property market poised for recovery

Paul Bassi, chief executive of Real Estate Investors, believes that the property market is “at or near the bottom,” indicating a potential recovery. He anticipates "a period of positive activity and the potential for capital and rental growth," helped by lower interest rates and increased demand. “A normalising market backdrop will contribute to more rapid sales and debt repayment, allowing us to execute our strategy and return capital to shareholders, whilst continuing to pay a covered dividend,” he said.  Despite a challenging first half of 2024, with transaction activity 40% below the five-year average, the Bank of England's recent interest rate cuts may bolster the market.  

City AM (24/09/2024)