European property funds post total return of 4.9%: IPD

European property funds recorded a total return of 4.9% over the 12 months to June, according to research by the Investment Property Databank.

The total return performance for the first six months of the year was 1.8% whilst over 12 months to June 2012 the return was 4.9%. On a balanced basis the annual return was 9.3% whilst the specialist fund corresponding returns were 2.9%.

The Austrian and Swiss markets recorded the top performance to June with a total return of 7.3% whilst the Italian market turned in the weakest return of -4.8%.

IPD's research is carried out on a total of 293 funds representing an NAV (net asset value) of EUR 140 bn on a biannual basis. It is divided into two sub-categories, balanced property funds and specialist property funds.