Buyers cautious as UK property sector shows signs of overheating

With the Bank of England having met last week to discuss growing concerns of a fresh housing bubble, analysts and investors have questioned how much value remains in commercial property funds, particularly in the closed-ended universe. The property sector has rebounded strongly since the financial crisis, which wiped as much as 40% off the value of some funds and led to a series of blocks on redemptions. Last month, the IPD UK Monthly index – a common measure of the UK property market – edged closer to historic highs. In August, the index reached its highest level since 2007 at 895...