LOS ANGELES-Global office real estate values and rents were largely unchanged in third-quarter 2012, with values rising slightly and rental rate averages lowering slightly, according to CBRE Group Inc. The firm’s Global Office Capital Value Index ticked up 0.6%, and its Global Office Rent Index fell 0.7% during the quarter, indicating no significant move in the needle.

“Commercial real estate investors and occupiers turned more cautious in response to political, fiscal and economic uncertainty,” said Dr. Raymond Torto, CBRE’s global chief economist, in a prepared statement. “Despite this, office rents and values have held their ground as both the leasing and value indices remain above year-ago levels. We see this as a pause in the market, not a fundamental change in underlying market dynamics.”

The CBRE Office Capital Index for the Americas showed the best quarter-over-quarter and yearly gains among global regions, reflecting the strength of the US and rising prices in Latin America and Canada.

The Americas Index has risen slowly but steadily over the last year, rising 2.9% By contrast, the quarter-over-quarter changes in EMEA and Asia Pacific indices for office rents were both slightly negative while the year-over-year changes were basically flat.

*charts courtesy of CBRE Group Inc. via CBRE Research. For more information, click here.