Property valuation is the analysis of property transactions to find out the value of property and compare it with similar ones. Office rental growth, at 8.7% pa in 1998Q3, is the highest of the three main property sectors The growth rate continues to rise, albeit at a slower rate than earlier in the year, and is now at its highest level since September 1990 Central London is experiencing growth of close to 20% pa on average although there are already signs of these unsustainable growth rates slowing Cluttons Daniel Smith further believes that some investors may view the coming months as an ideal opportunity to sell thereby increasing the choice of properties for buyers.
The all retail property rental growth rate fell slightly during 1998Q2 to finish at 6.1% pa on average and looks to have reached its peak for 1998 At mid-year the IPD monthly data suggests that the end of year rental growth rate for the Annual Index will be in the region of 5-6% pa which will feed through to an annual total return for retail of 14-16% pa. Given current trends retail could turn out to be the poorest performing property sector in 1998.
There are signs that industrial rental growth has peaked with the annual rate rising over the second quarter but failing back from a high in April of 4.3% pa to 4.1 % pa in June Investment demand is strong for good quality industrial estates with investors attracted by a combination of good initial yields active management opportunities and relatively little new development in the pipeline. If you were to buy the house at the property conveyancer sydney cost of that day added to the price of the land of that day, then would the buyer not buy?
highlighting some important emerging market trends As boom turns to gloom over the immediate future of the London office market the infamous market lag produces office construction activity at a highpoint with nearly 500,000 sqm underway in London. Valuation is not limited to finding the estimate value of the property depending on certain factors; it is also used for other purposes like creating a limit for sale and purchase, deciding the compensation for buying a property, deciding the rents of the property, assets valuation for residential and commercial buildings, lending and association financial handlings, property settlements and property ratings and for all the aids in taxation system and all other type of property analysis.
New construction starts however dipped by 20%25 New office demand is falling, signified by a 40% fall in the number new requirements for office space in the second quarter The number of new planning applications for office schemes rose nearly 30% over the quarter, while the number of permissions granted rose 8% A revival in the number of office to residential conversions points to a return to health for a niche sector that was weakening in the first three months of 1998.
The growth phase of the market is over However, although activity will fall back over the next year low availability and a continuing healthy level of demand are likely to sustain a subdued yet relatively balanced London office market over the next 12 months.
Hill Property Unit Trust/Tsb Group Pension Trust In Joint Venture With Shearer Property Group On Weymouth Town Centre Development.
S J Berwin & Co acted for Hill Samuel Property Unit Trust and TSB Group Pension Trust Limited on the funding and acquisition of a retail and leisure scheme in Weymouth.