It seems that appetite for UK property stocks is finally on the mend after a multiyear decline on the back of continuing Brexit uncertainty, a sluggish economy and weak retail spending. The London Stock Exchange’s real estate sector has delivered a total return of 15.4% (in rand terms) year to date, pipping other global regions to the post, according to the latest figures from Anchor Stockbrokers. The next best performer was the US with 15.1%, followed by Europe (9.6%) and Australia (8.5%). SA property stocks have had a total return of only 5.3% year to date. Despite the recent uptick in UK-listed property prices, many are still trading at discounts to NAV of 20%-plus, which raises the question: should SA investors start increasing their allocations to the region? The JSE offers 10 or so property counters that offer partial or 100% exposure to the UK. These include Capital & Counties Properties, Intu Properties, Hammerson, RDI Reit, Tradehold, Stenprop, Atlantic Leaf Properties and ...

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