UK commercial property total returns for the first quarter of 2013 were 1.1%, as capital values continued to fall, according to the IPD quarterly property index.

Values fell by 0.4% for the quarter, while income returns held up at 1.5%.

Total return for offices, at 1.4%, was better than industrial (1.2%) and retail (0.9%).

Compared to other investments, property was well behind equities (9.7%), but ahead of bonds (1%) and inflation at 0.8%.

Click below to listen to a podcast interview with IPD's UK and Ireland head of research, Greg Mansell, and Aberdeen Asset Management's global head of property, Andrew Smith. Alternatively, download the podcast by clicking here, or head to Estates Gazette's iTunes channel.