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City of London

UK Property Slumps to Worst Quarter Since 2009 as Rates Bite

  • MSCI’s UK Quarterly Property Index Slumped last quarter
  • Industrial property was hardest hit, retail proved resilient
Residential property in London.
Residential property in London.Photographer: Chris J. Ratcliffe/Bloomberg

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Britain’s real estate sector recorded its worst return in more than 13 years in the third quarter of 2022 after a sharp rise in borrowing costs weighed on the industry.