State of the property market in quarter 4 of 2004

On the non-residential front, the office market is still battling in places, but solace is to be found in the industrial property market, which is still in fifth gear. Anecdotal evidence suggests that the residential property market was still growing at a firm pace in the first two months of 2005, which is what we expect it to do for the remainder of the year, albeit not at the same tempo as in 2004.