LONDON-The institutional buying spree in UK commercial property came to a sudden halt at the end of 2002, according to the latest data from the office of National Statistics. Insurance companies and pension funds were net disinvestors in property by £2.1 billion in the 4th quarter of 2002, the highest level of net disinvestments since quarterly records began in 1983.

There was a substantial increase in sales by insurance companies in the fourth quarter to a record level of over £6 billion (), while pension funds sales of property also increased to £971 million. Insurance company property purchases eased back to £3.6 billion whilst pension funds bought nearly £1.4 billion worth of property.

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