Investments 

Budget rule change to hit UK commercial property

Mr Smith said any impact on the property market is likely to be “very gradual.”

David Coombs, multi-asset portfolio manager at Rathbones, said commercial property would also suffer if UK inflation continues to be strong.

This is because the primary source of return from UK commercial property is the income yield, and the income would be less valuable in real terms if inflation is rising.  

david.thorpe@ft.com