U.K. property companies led by Land Securities Group Plc and British Land Co. climbed the most in almost 23 years in London after the U.K. and U.S. stepped up efforts to ease the credit-market seizure.
The FTSE 350 Real Estate Index rose as much as 15 percent, the most since the index started at the beginning of 1986. It was 5.3 percent higher at 9:55 a.m. in London, paring this year's decline to 16 percent.
``It has to come down to the action that is happening on both sides of the Atlantic,'' said John Perry, a property analyst at Deutsche Bank AG in London. ``Real estate preceded the broader market on the way down and from a fundamental standpoint, it was closer to the bottom than other industries.''
