Commercial market update Q2 2023

The UK’s economic mood music has been more upbeat so far this year than many would have anticipated in the wake of the mini-budget last year. This culminated in the IMF, traditionally circumspect about the UK’s economic outlook, confirming in late May that the country would not enter recession this year, contrary to its earlier forecasts.

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Office building

Office market update Q2 2023

Office take-up gained some momentum towards the end of Q1 as employees continue to return to the workplace in greater numbers. But overall demand for office space remains muted compared to historical norms.

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Office floor with a bank of desks

Retail market update Q2 2023

Retail sales fell back in May after rising slightly in April, according to a survey from the CBI, but the overall outlook is slightly more upbeat than at the beginning of the year as consumer confidence continues to climb and the prospect of lower energy bills is factored in.

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Industrial market update Q2 2023

Average industrial property yields, according to MSCI, which softened sharply last year remained largely unchanged in Q1 2023, as the market absorbed the new economic landscape in the UK.

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Connecting today for tomorrow

From future proofing to ESG, we think the conversation around connectivity needs to be moved up the agenda.  

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Cluttons connectivity report infographic showing multiple points of digital connectivity

UK economic outlook Q2 2023

Higher than expected inflation dampens expectations for UK economy. Inflation data was higher than expected in May, which has weighed on business confidence, and has pushed interest rate expectations, and the cost of borrowing, higher.

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Canary Wharf

UK & London lettings market update Q2 2023

Rents continue to rise, but the pace of growth is beginning to ease in many regions. Tight levels of supply are still underpinning rental growth.

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Apartment block

UK & London sales market update Q2 2023

March marked the seventh consecutive month of monthly price falls in house prices across the UK, taking the annual decline to 3.1%.

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Brick houses with a view of London skyline

Market focus: Shad Thames

The landscape for the housing market has changed, as the bank base rate is now higher than the ultra-low rates of the last decade.

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Shad Thames

Market focus: Wapping & Limehouse

Sentiment across the prime London market has improved since the start of this year after the political and money market upheavals in the wake of September’s mini-budget.

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