Property market bottoms out, Barclays Wealth says

CONFIDENCE in both residential and commercial property is on the up, a report out from Barclays Wealth will show today.<br /><br />The survey, the tenth in a series from the global wealth manager and the Economist Intelligence Unit, will show that twice as many respondents (35 per cent) say they are planning to increase their property allocation over the next two years, compared to those planning to decrease it over the next two years (17 per cent).<br /><br />The report also shows that, despite the turmoil in the markets, confidence in property is growing worldwide with investors in nine out of the ten largest markets surveyed planning to increase their allocation to property over the next two years.<br /><br />But Barclays Wealth is urging investors to take a cautious approach and to avoid overexposing themselves to property. There is &ldquo;a real need for people to consider diversifying their portfolios,&rdquo; it said.