Ann: Announces Sale of Northbridge, WA , page-29

Yep, get the hell out, the LPT sector will crater again over the coming months.

The banks are sucking the life blood out of them with spreads of 3% instead of the previous 0.75 - 1.5%. Fee have been rammed up as well.

Valuations still have at least another 20% to be wiped off them over the 4 quarters since 31/12/09.

Vacancies are starting to rocket and rents are starting to crater.

Up untilow it has been basically a Cap Rate squeeze.

From here on valuations will be driven by vacancies and rent decreases.

(see Michael Pascoes article today)