Industrial property prices up in 3rd quarter
Pace of increase slows but 3.5% gains posted despite flat-lining of rents
Industrial property prices rose in the third quarter as investors looked to avoid earlier cooling measures in the residential market but the pace of increase has slowed, according to a report from consultancy DTZ.
Resale prices for upper-storey industrial space increased 3.5 per cent in the third quarter compared with the previous three months. That's a slowdown: Prices had risen 4.9 per cent in the second quarter over the first. Values have surged 8.5 per cent in the first nine months of the year, however.
The gains come despite rents flat-lining in the wake of slowing manufacturing activity.
DTZ said buyers were more cautious in the July to September period, with prices already at high levels and the Government indicating that it could impose cooling measures.