Momentum is gathering behind the UK property market but a cautious approach is needed,according to research from Reita.
Over 95% of property and investment experts surveyed by Reita think property market conditions have improved in the last three months.
Meanwhile, just over half (54%) say the improvement is "significant" compared to 14% in the June survey.
An additional 58% of respondents believe the return on REITs (real estate investment trusts) and property securities will be better than direct returns on property over the next year.
Peter Cosmetatos, operating director of Reita, comments; "Whilst it is encouraging to see over 30 new property funds having come to market in the past few months and continuing, significant improvement in sentiment, caution is required.
"Although UK property shares are up about 30% in the last three months...they are still 35% below their level of a year ago and 63% below their peak at the beginning of 2007."
Reita is an education and awareness campaign for property investment and REITs, which were launched in the UK in January 2007.
The Reita Expert Panel, which includes representatives from 24 of the leading property and investment organisations, is surveyed on a quarterly basis about the key issues facing the property investment industry today.
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