Yield compression is one of those concepts that property experts like to toss around. It may not mean a lot to the rest of us but it is something that is beginning to worry students of, and investors in, London property.
The wall of money, often from overseas, coming into London in search of a safe haven and a decent return is the main factor driving the astonishing rise in the capital’s property prices. Great Portland Estates, which is entirely invested in the West End, the City and its fringes, announced yesterday that the value of its portfolio had risen by 5.8 per cent in its third quarter to the end of December and by 16 per cent over the past year.
But yield