The IPD UK Monthly Property Index saw a total return of -0.5% month-on-month in April 2008, a slight improvement on the -0.8% return in March. The April figure continues the upward trend reported by the index since the -3.7% return seen in December 2007. Capital values fell by 1% in April after a 1.3% fall in March and a 1.5% fall in February. On an annual basis however, All Property total returns hit a record low of -11.7% year-on-year in April, down from -10.7% in March.
The IPD UK Monthly Property Index saw a total return of -0.5% month-on-month in April 2008, a slight improvement on the -0.8% return in March. The April figure continues the upward trend reported by the index since the -3.7% return seen in December 2007. Capital values fell by 1% in April after a 1.3% fall in March and a 1.5% fall in February. On an annual basis however, All Property total returns hit a record low of -11.7% year-on-year in April, down from -10.7% in March.
'For those investors who thought we had reached the bottom in the first quarter of 2008, these numbers will be unsettling at best. Flat rents over the month raise the spectre of a double-dip,' said Malcolm Frodsham, IPD Research director.
The IPD UK Monthly Index measures returns to direct investment in UK commercial property.
