Goldman Sachs has ended its recommendation to short UK real estate stocks.
The US bank issued a note to clients saying that conditions were no longer right for a bet against the sector, as the housing market is stabilising and interest rates should start to come down from next summer.
Goldman introduced an underweight rating on a UK real estate subsector basket in June, as part of its second-half outlook.
The basket has gained 11% since then, while the FTSE 350 Real Estate Investment Trusts Index is up more than 5%.
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