Broker snap: Property sector to calm down

9th Dec 2009 12:56

US bank JPMorgan Chase (JPM) is looking forward to a return to dull normality for the property sector in 2010 after its strong recovery since March.'The rally is over, but we see 12% total return for 2010,' predicts the JPM property research team. 'Our detailed 2010 roadmap indicates that property stocks are currently in their sweet spot, resulting in positive news flow on pricing, rents and acquisitions into 1Q2010 [first quarter of 2010],' JPM said, though it acknowledges that this momentum will begin to fade.Sector performance is likely to feature some corrections, 'resulting in attractive entry points to the sector'. JPM has highlighted British Land as one of its preferred plays in the sector.