Commercial property prices down 0.8 percent in June

LONDON (Reuters) - Commercial property prices fell 0.8 percent in June, taking the market's total drop to 44 percent since its mid-2007 peak and suggesting a turning point may be near, CB Richard Ellis data showed on Tuesday.

In its monthly index, CBRE, the world's largest real estate broker, said the all property total return was down 0.1 percent in June and 9.4 percent for the year to date.

The June fall in prices was almost half the fall seen in May, prompting CBRE to suggest the commercial property market could be nearing an inflection point.

The all property equivalent yield was static at 8.4 percent in June, from May, while all property rental values fell 0.9 percent in June after a dip of 1.1 percent in May.

CBRE's head of economics and forecasting, David Wylie, said the long and sizeable outward yield shift seen since the market peak in 2007 appeared to have run its course.

"The firmness of yields across the market suggests investors may now be looking through the current weakness and seeing value in today's pricing," Wylie said.

(Reporting by Andrew Macdonald; Editing by David Cowell)