Bears sightings increase in London real estate
15 July 2016 London
Image: Shutterstock
Short sellers are moving into the UK real estate sector in greater numbers as investor sentiment sours after the referendum, according to Markit.
Although shorting interest in the sector has been increasing since the start of the year, it leapt by a further 43 percent once 'Brexit' was announced.
Bearish activity in UK real estate market, specifically commercial property, first began to gain momentum in the weeks as skittish investors reacted to polls showing the increasing likelihood of a ‘Leave’ vote.
Since the 23 June referendum, average short interest across the UK real estate sector, which includes 63 firms, has surged by 28 percent, rising to 1.3 percent as of 13 July.
Intu Properties, a shopping centre operator, became the most shorted firm, after recording a massive 141 percent jump in short interest, with 10.3 percent of shares outstanding on loan.
Although shorting interest in the sector has been increasing since the start of the year, it leapt by a further 43 percent once 'Brexit' was announced.
Bearish activity in UK real estate market, specifically commercial property, first began to gain momentum in the weeks as skittish investors reacted to polls showing the increasing likelihood of a ‘Leave’ vote.
Since the 23 June referendum, average short interest across the UK real estate sector, which includes 63 firms, has surged by 28 percent, rising to 1.3 percent as of 13 July.
Intu Properties, a shopping centre operator, became the most shorted firm, after recording a massive 141 percent jump in short interest, with 10.3 percent of shares outstanding on loan.
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