Development Securities sees improving property trends

Property investor and developer Development Securities said that capital values in the property investment market have started to recover slightly though wider economic concerns remain.'There is a significant weight of equity chasing minimal available stock so perhaps it should not surprise us that capital values are rising,' said chairman David Jenkins.However, he added: 'On the other hand, concerns over the wider economy and downward pressures on consumer demand must temper expectations of a reduction in vacancy rates and a rapid return to sustainable rental growth.'Development Securities also announced the acquisition of a leasehold in Hammersmith Grove, an office development in London and said that its CityPark office and hotel development in Manchester had achieved 'practical completion.'