Search for value continues, says JPMF's Gambhir

To an extent this focus is the result of monetary policy, with rising interest rates cooling house prices without sending the housing market into a tailspin. ”It is interesting the National Association of Estate Agents has said it sees no evidence of prices falling, but it has actually reported record levels of activity in August, even when compared against the same month last year, which itself was very strong.” ”That’s proving encouraging for housebuilders,” Gambhir says. Utilities, especially water, are another sector of interest because of regulatory moves to allow higher price...