New Star's Dossett plays down UK property 'crisis'

Falling transaction volumes have forced valuations to be made mainly from sentiment rather than hard evidence and this has resulted in an early correction in property valuations, according to Dossett. "As a result of these corrections, capital losses are being brought forward, suggesting that the market will reach a bottom fairly soon rather than the decline being a protracted process," he asserted. Despite reduced liquidity and short-term fluctuations in asset values, Dossett believes that property will provide solid long term returns, particularly in portfolios holding prime buildings...