Britain’s valuers have come beneath hearth in recent times for valuing shops and buying centres too optimistically.
Warning indicators of rising numbers of empty outlets, retailer insolvencies and on-line competitors had been there for years earlier than some landlords reported sharp valuation declines.
Now, the purple gentle is flashing for the office sector. A number of the nation’s largest company workplace occupiers, together with Deloitte, JP Morgan, Commonplace Life Aberdeen and Schroders have signalled a shift to more home-working indefinitely.
Vacancies are rising and rents are falling. The supply of London workplace house has elevated to virtually 20 million sq ft, from the 10-year common of 14 million sq ft, as companies search to sublet house they not require.
Can traders belief valuers this time round?