Property returns have started 2001 with signs that the weakening performance of recent months may be levelling out.

All property capital values on the Insignia Richard Ellis Monthly Index rose in January for the first time since last August. The principal driver was the office sector with capital growth of 0.7% in January and monthly rental growth of 1.3%.

High street shops recorded their smallest fall in capital values for five months, while retail warehouses produced their worst rental performance in recent months.