UK commercial property values fall 3% in July: preliminary IPD index

UK commercial property values fell 3 percent in July according to preliminary figures for the closely-watched IPD real estate index, index compiler MSCI said on Friday. Central London values fell by 3.8% on the month, MSCI said on its website. Expectations of a sharper fall in property values led retail investors to flee UK property funds last month after Britain voted to leave the European Union, causing as much as 18 billion pounds ($23.24 billion) in property fund investments to be frozen. MSCI said on the final index results were delayed due to a technical failure.

Source: Economic Times