A low number of investment deals in the region, especially at the higher price end, finds the North West trailing other regions in the share of the national tally.
CB Richard Ellis head of research Peter Damesick told audiences at seminars in Manchester and Liverpool on Wednesday that deals under £10m were dominating the UK market, with nearly 70% of all transactions.
Deals over £50m accounted for less than 10% of the number but around 50% of the value of UK deals to date in 2009.
London and the South East accounted for more than 60% of deal value in 2009 so far.
The £500m sale of a 50% stake in Meadowhall shopping centre in Sheffield by British Land to London & Stamford had pushed Yorkshire's take to 13% of UK transactions.
Yields are beginning to firm up and move in, said Damesick, with prime stock leading the way, followed closely by secondary quality stock in recent months.
Also speaking at the events, Andy Mitchell, head of real estate in the North West for Royal Bank of Scotland, said banks overburdened with property assets were busy calculating which stock to sell, and when, so as to minimise losses.
Mitchell said there were concentrations of stock in the same geographical and sector areas on the bank's books. He pledged to work with RBS customers to encourage recovery rather than making decisions based on asset quality alone. He warned that, otherwise, banks could find themselves with poor relationships in three years' time when a new wave of investment is expected.