Office value growth declined slightly to 0.2% as Central London Office growth slowed and values outside of London continued to see a decline.
Rental growth stabilised overall at 0.0%, after a fractional decline in March. Office rents saw a second month of zero growth, a result of the slowdown in the Central London Office market. Fractional yield compression prompted the marginal increase in values.
Phil Tily, Managing Director for UK & Ireland, said: "Capital appreciation has slowed considerably so far in 2011, amounting to only 0.7% growth over the four months so far.
"Total return has dropped accordingly in April, to 0.7%, almost entirely driven by income return. Flat or negative rental growth across all sectors and an apparent end to the re-pricing sequence meant that there was very little capital movement in April, and indeed the first four months of the year."
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