ProLogis's European president Philip Dunne today delivered a rallying cry for the property industry.

Speaking at the end of an upbeat investment forum on the United Kingdom, in which Dunne had to assure the delegates he had not been taking 'happy pills', he said:

"I think the best companies have come through this and their investors have supported them. The strong have survived, there is a flight to quality, and I think there is a great opportunity for both the development companies and the investment houses to capture the opportuntity that is in the market today, buying long term income providing good solid returns for their investors.

"I also think there is an opportunity in the market for customers to take advantage of the vacancy that is in the market and do great deals.

"I believe we've hit the bottom in respect to the fall-out and I think now Prologis, among others, is in a position to step up and take advantage of the opportunities, I think we will see more trade in the market and that is something to be very happy about."

Philip Dunne delivers property rallying cry