Pru fund chief backs UK property renaissance

Cartwright is cautiously optimistic on the sector's prospects in the next 12 months as the correction reaches its advanced stages and there are signs of a stable market re-emerging in the UK. Cartwright said: "A lot has been written about commercial property and it has all been rather gloomy. The fourth quarter of last year was unprecedented in terms of the speed and severity of the correction, although the pricing levels weren't sustainable. "It all happened quicker than had previously been seen. However now people are saying things will improve, and with every week that is the case. W...