UK commercial property values posted the largest monthly increase in 15 years in November 2009, according to the latest IPD release.
In particular, the capital component of the All Property IPD Index, which encompasses office, retail and industrial property, registered a monthly increase of 2.4% in November 2009, contributing to a total monthly return of 3.0%.
The November performance pushed the 3-month total return for UK commercial property up to 7.5% and the 6-month return up to 8.9%. On a yearly basis though, UK commercial property returns remained in negative territory with a total return of -6.6%.
Monthly increases in UK commercial property values varied across property types. Retail property registered the best performance with a monthly capital growth of 2.8%, followed by industrial property with a monthly capital growth of 2.1%. Office property values registered the smallest monthly increase of 1.8%.
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