UK banks sell off heaquarters

The Real Estate sector of the UK stock market continues to subside. Since January it is down nearly 20% and very considerably underperforming the FTSE 100, which over the same period has been positive. Several of the major banks have sold their expensive head offices and other premises and leased them back, getting top dollar for the assets and, at the same time, leasing when rent yields are at historic lows – their action probably confirms a significant property market top.