London second-best for property cash

London has retained its place as the world’s second largest property investment market behind New York, according to property consultancy firm Cushman & Wakefield. Investment volumes increased by six per cent to $32.3bn (£20bn) in the year to the end of June 2013. New York attracted the most commercial property investment during the last year, with volumes increasing by 39 per cent to US$49.2bn.