Investment Property Databank co-founder Ian Cullen has warned CB Richard Ellis’s acquisition of Insignia Financial Services means one firm will be responsible for valuing about 46% of the reconstituted monthly IPD index.
Karen Sieracki, former professor of land management, says the merger raises serious competition questions and may even warrant Competition Commission consideration.
IPD’s monthly index has seen the largest single expansion of its capital value as of January up from £12.9bn to £16.3bn. Overall rental value growth continued to fall in January and offices showed the steepest rental declines of 0.9%. Total returns on offices badly lagged behind retail and industrial properties.
References: Financial Times 21/02/03 page 27 (The Property Market
