UK Sept commercial property values fall slightly: MSCI IPD index

UK commercial property values slipped in September but at a slower pace than in July and August, a closely-watched index showed, suggesting concerns about the impact of Britain’s vote to leave the European Union are easing. Overall property values for UK commercial assets fell 0.21% in September, following a 0.65% fall in August, and 2.8% fall in July, the IPD real estate index, compiled by MSCI, showed on Monday. Britain’s 900 billion pound ($1.12 trillion) commercial property market was one of the biggest victims of the turmoil that followed the June referendum, and at one point over 18 billion pounds worth of commercial property funds were suspended.

Commercial property deal activity level has since picked up, as a steep drop in sterling attracts overseas buyers and local investors remain unfazed by any potential fallout from Brexit.

Read more: Economic Times