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According to the data compiled by the Investment Property Databank (IPD), the rate of decline in capital also decreased slightly from -2.0 per cent to -1.8 per cent.
All property rental growth turned increasingly negative, with the -0.1 per cent drop representing a deterioration of 60 basis points.
IPD director and co-founder Ian Cullen said that July was the first month of the downturn in which all sectors showed negative rental values.
He commented: "These movements were still all very small, however, and the downward pressure on capital values remains overwhelmingly the same as it was a year ago - yield decompression."
The IPD compiles performance analysis for real estate owners, investors, managers and occupiers.
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