Leading global real estate firm CBRE has revealed that the UK’s struggling Retail market has contributed to a total return of 0% for the month of November.
Figures released as part of CBRE’s Monthly Index makes for uncomfortable reading for investors as the British retail decline shows no signs of abating for a sustained period.
Capital values in the office sector meanwhile were propped up by a strong performance from the central London offices, which outperformed the Outer London/M25 and Rest of UK submarkets, who faced a -0.2% and -0.1% decline respectively.
As shown in the image above, the total returns for last month were fairly positive across the board; however, the sharp decline of -0.8% in the retail sector significantly eroded away any premature confidence that the results may have given to investors.
Commenting on the snapshot, Toby Radcliffe, Research Analyst at CBRE UK, said: “November’s results echo those throughout the year. As Industrials and Offices vie to be the year’s best-performing sectors, their steady performance is not enough to mitigate the Retail declines which have dragged down All UK Property results.”