A report on the Irish commercial property market suggests values rose during the third quarter of this year - the first such rise for six years.

The Irish Commercial Property Index, compiled by Investment Property Databank, shows a marginal rise in the value of commercial property owned by institutional investors.

It's the first quarterly rise in the index since 2007. Marie Hunt, head of research at property consultants CBRE, said the IPD index was closely watched by institutional investors, such as pension funds, when making decisions on where to buy property.

CBRE figures show the value of commercial property transactions here to the end of September was just over €1 billion, almost double the spend for 2012 as a whole.