Property prices up for ninth month in row

Commercial property values in the United Kingdom rose for the ninth consecutive month in January as the improving economic performance continued to drive sentiment and growth in the property sector.

According to the IPD Monthly Property Index, property values have now risen by 9.8 per cent since May, 20123.

Property values rose by 0.6 per cent in |January, which pushed total returns to 1.1 per cent for the month. This failed to match the 2.1 per cent delivered in December, 2013, which was aided by a flurry of deals pushed through before the close of the year. Offices delivered the highest total return of the three main sectors, at 1.7 per cent , driven not only by strong growth in markets in London and the south- east but also by continuing improvements around the UK. Overall, office values rose by 1.2 per cent.