The slide in commercial real estate values will come to an end by June, marking a 10 per cent peak-to-trough decline over the past two years and leading to a pick-up in transactions, a new sector analysis by JPMorgan says.

Sentiment would improve around office – a sector fully reflecting the challenges of both changing workplace culture and higher bond yields, against which their return is often compared – and the outlook for retail was also positive, JPMorgan analyst Richard Jones wrote in a note published this week.