The commercial property sector saw its worst performance since the crash of 1990 last month, according to new figures. Financial Times

Total returns were -1.5% in October, worse than the -1.2% return in September, according to the latest data from the Investment Property Databank monthly index.

Not since May 1990 – when the total return for one month was –1.8% – have investors seen such a poor result.

Income return of 0.4% was more than wiped out by a fall in capital values of -1.9%, making a total return of -1.5%.