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Bullish forecasters predict a strong rebound for commercial property this year with markets tipped to strengthen further into 2009.
Tight vacancy rates and strong demand are to push rents up, according to the latest LJH Commercial and BIS Shrapnel’s 2008 Australian Property Market Monitor report.
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Glen Peterson, chairman of LJH Commercial, said the groups’ report highlighted that the credit squeeze was only a temporary setback to an overall upward trend in commercial markets.
Beyond the new year however the picture is somewhat bleaker with some commercial markets expected to move into a downturn.
Published 18-07-08
