Performance - 2022 ended with another difficult month for property companies as the sector continues to get to grips with the impact of higher interest rates. There were several funds that performed well during December, however, with secondary shopping centre landlord Capital & Regional top of the pile. For a second month on the trot Home REIT saw its share price tank after it came under attack from a short seller in November. Valuation moves - It was a mixed bag for valuations, with six-month comparisons showing hefty falls and full year results posting gains. Civitas Social Housing bucked the trend for falling values, demonstrating the resilience of that sector. Corporate activity - Ground Rents Income Fund is considering its future as legacy issues and current headwinds impacts performance. Meanwhile, several companies scrambled to refinanced their debt.