Growth in British commercial property prices slowed for a second month in February, a closely-watched index showed on Thursday, denting a recovery seen in the last quarter of 2016 following Britain’s vote to leave the European Union.
The value of British commercial property assets grew 0.17 percent in February compared with January, according to MSCI’s (MSCI.N) IPD real estate index, overshadowing largely stable rental growth, with total returns falling to 0.625 percent in February from 0.71 percent in January.
The IPD real estate index is one of Britain’s most widely watched commercial real estate data surveys, and tracks about 10.5 percent of professionally managed British property across all sectors, including retail and office property.
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Craig Erlam
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