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Has the property sector bottomed out?

As the news that UK house builder Galliford Try is planning to raise around £120 million through a fundraising, to fund the acquisition of land in the short to medium term, there is growing confidence that the UK property sector has a much firmer base going forward. While this particular fundraising is at a significant discount to the prevailing share price, in an attempt to assure its success, there have been a number of companies in the sector who have raised additional capital believing that the price of land in the UK has bottomed out.

However, before we start to get carried away on the road to recovery and a return to boom and bust in the property market it is worth considering that these particular companies tend to invest on a long-term basis, even though short-term improvements would obviously be welcomed. It will be interesting to see how the price of land, and in particular land set aside for houses, fluctuates over the coming months as there appears to be growing demand.

When you take this into account as well as the increase in demand for houses it would seem to indicate that the UK property sector has perhaps turned the corner but is the recovery as strong as some would have you believe?

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