IPD said that its UK Monthly Index showed a total return of -0.8% month-on-month in March 2008, a very slight improvement on the -1.0% month-on-month return seen in February and continuing the upward trend since the -3.7% return seen in December. Capital values fell by 1.3% in March after a 1.5% fall in February and a 2.0% fall in January. Despite the easing in the monthly numbers, on an annual basis, All property total returns hit a record low of -10.7% year-on-year in March, down from -9.2% in February.
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