Ifas fear commercial property price falls

By Jonathan Dawes, Fri 13 Aug 2010 - Published in Mortgages

Almost one-quarter of independent financial advisers (Ifas) believe that commercial property prices will start to fall in the coming months.

Research commissioned by education and awareness campaign Reita found that 24 per cent of Ifas are anticipating drops in commercial property values.

In January this year, just six per cent believed that prices could fall in the sector.

The poll also showed that 49 per cent of Ifas think commercial property prices could increase in the next few months, falling from the 73 per cent who believed this at the start of the year.

Reita chairman Patrick Sumner commented: "The growing concerns among advisers reflect justifiable uncertainty about the economy over the next year or two, mainly in the light of public sector cuts."

Last month, research from Santander found that more than 100,000 new property millionaires have been created in the UK since 2000 - an increase of 393 per cent over the decade.

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