Knight Frank says it is expecting a “period of stability” in the next 12 months.
The property consultant reported full-year pretax profits down from £59.2m to £20.8m on turnover down from £334m to £256m. Underlying profits more than halved to £33m.
It said commercial property prices appeared to have hit bottom after falling nearly 50% in the past 18 months and house prices had passed the worst of the slump. July marked the first possible average yield movement in the commercial market since mid-2007, it said.
14/09/09 Financial Times 21 Times 46 Daily Telegraph B4 Independent 38
