Retail leads the decline in property shares

Retail taking a beating reached another level last week, when intu suffered a 40.6% slump in its share price in a single day. Brookfield, Peel and Olayan dropped their bids for the shopping centre investor, leading to the worst day for a current FTSE 350 property company since the financial crisis. In fact, it was the third-sharpest fall since the start of 2008 for a propco or a housebuilder.

But it’s easy to keep kicking retail while it’s down and miss the wider picture: the stock market has not been particularly kind to property this year.