Commercial property produced a total return of 0.5 percent in November, with uncertainty over the country's economic prospects and its ability to avoid recession in 2012 weighing on property values, Investment Property Databank (IPD) said.
IPD data showed the 0.5 percent total return included 0.5 percent of capital gains, with nil income returns.
The total return for offices and industrial property was 0.6 percent, and 0.4 percent in retail, IPD said in a statement on Wednesday.
Poor economic growth forecasts, the ongoing euro zone crisis, high unemployment and inflation still hovering around 5 percent has left consumers and businesses, occupiers and owners alike, feeling out of pocket, said Malcolm Hunt, IPD's UK and Ireland client services director.
Deep uncertainty about the potential of the UK to avoid recession next year is now finding its way into property values.
Earlier on Wednesday, a Reuters poll of more than 40 economists found there was a 50 percent chance that Britain's economy could slip back into recession within a year, but that the country was unlikely to leave the 27-nation European Union.
Commercial property values have gained 17.8 percent over the past 27 months, having fallen 44.1 percent in the two years to end-June 2009, during the global credit crisis.
In November, retail property values fell 0.1 percent, while income return growth was 0.5 percent.
Office values grew 0.1 percent, while income return was 0.5 percent. Industrial property produced no capital gains, and 0.6 percent income return, IPD said.
A combination of steadily declining occupier demand outside of London and fading investor sentiment has largely driven the declines in retail values, IPD said.
London is still seeing positive capital growth, but this is now being outweighed by poor regional performance, IPD said.
(Reporting by Andrew Macdonald; Editing by David Hulmes)