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Institutions Cut Back On Property Investment, Claims DTZ

LONDON-New research from property consultant DTZ shows that institutions reduced their holdings in commercial property during the third quarter of 2001--the first quarterly decrease since 1998.

By Graham Parker | Updated on January 08, 2002

LONDON-The third quarter of 2001 saw a sudden downturn in institutional property investment in the UK, according to new figures from DTZ. Over the preceding four years insurance companies and pension funds have, on average, increased their investment in commercial property by around £1.2 billion ($1.725 billion) every quarter. Yet between July and September 2001 there was a net disinvestment of £75 million ($108 million).

While the net disinvestment was small, DTZ said it is evidence of caution in the market. The fall in equity prices over 2000 and 2001 meant that some funds were technically in breach of their asset allocations towards property and were forced to stop buying property.

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