FUND managers have offered investors an optimistic assessment for the growth prospects of UK property in 2007 predicting returns will be in the region of 8-11pc.
2006 was a bumper year for property launches with the Association of Investment Com- panies (AIC) reporting over a third of the £2.7bn raised by new issues in the closed-ended sector came from the property sector. The introduction of Real Estate Investment Trusts (REITS) to the UK on January 1 this year has further opened up the choice for property investment. Duncan Owen, manager of the Invista Foundation Property trust, said that property returns in 2007 could surprise on the upside, possibly even breaking 10pc, although he expects a greater divergence of returns with both winner...
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