Commercial market update Autumn 2023Will they? Won’t they? This is the key question around whether the UK’s base rate will exceed 5.75%. There have been enough mixed messages to muddy the waters – inflation data released in June showed that inflation was stuck at 8.7% in May, which prompted forecasts that the base rate would peak at 6.5% from the current rate of 5.25%.
Office market update Autumn 2023UK office vacancy rate continues to climb. Weak demand and strong supply are resulting in an ever-rising vacancy rate for offices across the UK, which has hit 7.7%, up from less than 5% before the pandemic.
Retail market update Autumn 2023The retail environment remains challenging. The rising cost of living, and recent disappointing weather have led to a further tick down in overall sales.
Industrial market update Autumn 2023Vacancy rate remains low. Net absorption of industrial space dipped into negative territory in Q2 2023 for the first time in 11 years as take up fell back to levels last seen before the pandemic.
UK economic update Autumn 2023Stronger signals that interest rates are nearing their peaks. The UK economy has avoided recession so far, but growth is minimal. GDP rose by just 0.2% in the three months to June.
Prime London sales Q3 2023Price growth in the Greater London market was more subdued than in some other parts of the country during the pandemic.
Prime London rental Q3 2023The bounce back in rental demand after the pandemic amid constrained supply created a turbo-charged market in 2022. There is still very strong rental demand compared to pre-pandemic norms, but it has now plateau-ed in many areas, or has started to recede slightly.
UK & London lettings update Q3 2023Rents continue to rise, but a slight loosening in supply means the pace of growth is beginning to ease in many regions.
UK & London sales market update Q3 2023Average house prices continue to fall, although at a relatively modest rate. Average values are down 3.5% on the year.
UK economic outlook Q3 2023The economy settled down relatively quickly from the shock of the mini-budget in September last year and the resulting spike in gilt rates and mortgage rates.