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Is this the high-water mark for the upturn?

Investment market activity has recently hit record levels and the strong, yield-driven capital gains have continued. However, our sense is that yields now need to pause, giving time for the underlying occupier market and rents to catch up. Capital value growth should hover at about 12%y/y for the rest of 2014, but the best for this upswing has almost passed and a slowdown looms next year.

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