FKP heads property resurgence

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Property stocks are on the rise again after recording their worst performance since 2000 in the first quarter of 2008, it has been reported.

Retirement village operator FKP Property Group ended the week as second place market leader in the S and P/ASX Real Estate Index and gained the highest fundraising turnaround, with debt refinancing facilitating a 14 per cent increase in share prices, according to Bloomberg.

Austock analyst Rohan Sundram is reported as writing that the figures are "a major positive for the group as we believe these outstanding refinancings were impacting short-term share price performance", in a letter to clients.

Overall results in the Real Estate Index demonstrated a 2.6 per cent rise to 3961.18 points, showing signs of recovery after plunging 20 per cent earlier this year, the website reports.

FKP Property Group is an Australia-based property and investment company with offices in Brisbane, Sydney and Melbourne that is ranked among ASX's top 200 performers.