The headline rate of U.S. property price growth accelerated further in September, propelled by faster rates of growth from all four major property types, the latest RCA CPPI: US report shows. The RCA CPPI National All-Property Index rose 16.1% from a year ago and 2.2% from August.
The office sector index accelerated to a record 16.9% year-over-year rate in September, overtaking apartment and on par with the industrial sector. Suburban office prices powered the gain, climbing 20.2% year-over-year. CBD office prices fell 1.2%.
Apartment prices increased 16.3% from a year ago and industrial prices climbed 16.9%. Both are the fastest rates seen since the inception of the RCA CPPI in 2000. Retail prices jumped 12.4%.
U.S. commercial real estate sales through September hit a record high for the first three quarters of any year, the latest edition of US Capital Trends shows.
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