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UK commercial property values fall 2.8 percent in July - final IPD index

Published 12/08/2016, 23:03
© Reuters. Centre Point, an iconic post war building in the middle of the capital's commercial district, is clad in scaffolding as it undergoes a makeover, in London

LONDON (Reuters) - UK commercial property values fell 2.8 percent in July according to final figures for the closely-watched IPD real estate index, index compiler MSCI said on Friday.

Central London values fell by about 4.1 percent on the month, MSCI said.

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 in property fund investments to be frozen.

© Reuters. Centre Point, an iconic post war building in the middle of the capital's commercial district, is clad in scaffolding as it undergoes a makeover, in London

MSCI said the final index results were delayed due to a technical failure.

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