UK real estate stocks gain as fall in food inflation fuels rate pause hopes

Urban Logistics Reit

31/10/2023 14:29

** UK homebuilders' index  .FTNMX402020  rises 1.5% and FTSE
Real Estate index  .FTUB3510  gains 1.8%
    ** Shares of UK real estate firms gain after industry data
showed prices in British store chains rose at the slowest pace
in more than a year in October, strengthening case for Bank of
England (BoE) to leave interest rates unchanged in its policy
meet on Thursday
    ** Any pause in rate hikes filter down to halt in potential
rise of mortgage rates, fuelling demand for homes, while such a
BoE decision bolsters investment market opportunities for
commercial property firms
    ** "Expectations are rising that the pause button on
interest rates will be hit again" - Susannah Streeter, head of
money and markets, Hargreaves Lansdown
    ** FTSE 100  .FTSE  homebuilders Barratt  BDEV.L , Taylor
Wimpey  TW.L  and Berkeley  BKGH.L  gain between 1.3% and 2%
    ** Warehousing specialist Segro  SGRO.L  rises 2.7%, top pct
gainer on the real estate index
    ** Land Securities  LAND.L  and British Land  BLND.L  up
1.3% each

 (Reporting by Aby Jose Koilparambil in Bengaluru)
 ((abyjose.koilparambil@thomsonreuters.com))