20 May

British Land: Property price decline slowing

British Land: Property price decline slowing

British Land has stated that the decline in UK property prices has begun to slow, although it admits that buyer sentiment remains changeable.

The property company said it had seen signs of increasing investor interest at current property values, Reuters reported.

In terms of its own portfolio, which mainly compromises commercial properties, British Land revealed that its value fell by ten per cent in the year to March 31st 2008, which included a 2.2 per cent drop in the final three months.

Meanwhile, the company's net asset value per share was down 20 per cent over the year to 1.344p, according to the newswire.

Yesterday, Rightmove.com reported that average asking prices for UK property were up by an average of 1.2 per cent last month.

However, the firm found regional variations in asking prices, with some areas lowering them while them south-east increased prices by 4.2 per cent.

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