UK commercial property capital values fall 2.4 pct in 2016

British commercial property capital values fell 2.4 percent in 2016, hurt by changes to stamp duty tax and Britain’s vote to leave the European Union, a real estate firm said on Tuesday. Retail property capital values saw the largest fall, declining 5 percent from a year earlier, while offices dropped 2.5 percent. Industrial property capital values rose 1.5 percent compared with 2015.

Capital value refers to the probable price that would have been paid for a property at the date of valuation. Rental values rose 1.7 percent on the year but remain below pre-Brexit vote levels. The annual total return for UK commercial property investment was 2.7 percent.

Read more: Reuters