– with re-leasing spreads which reflecting the difference between old and new rents improving while asset values also rose amid a record run in mall deals.
“We are encouraged by early signals of a demand recovery, a strong labour market and recovering workplace mobility, although acknowledge vacancy and incentives remain elevated,” the analysts wrote.which upgraded its full-year operating earnings per share guidance to growth of 20 per cent,UBS analysts also noted that the local REIT sector has never been more exposed to interest rates, at a time when both the cash rate and 10-year bond yields are increasing.
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