The commercial property market is facing its worst year since the early 1990s, according to forecasters that include CB Richard Ellis. Sunday Times

The firm predicts that returns will plunge to almost zero by the end of this year, down from 18.1% last year.

It is likely that values will drop further between now and the end of December.

Forecasters at Capital Economics predict that property values will fall by a further 10% next year, and they warn that more bad news in the financial markets could force values down by double that.