Economic growth in the UK has been below trend but steady since the EU referendum vote. However, nearly two years after the referendum there is still little clarity over what the Brexit deal will look like, and we expect business activity and investment to remain subdued until there is more certainty, hopefully in the autumn.
Average annual all-property rental growth has remained steady at 1.9% in 2018 so far. The strength of the industrial/distribution sector has held the average up.
Investor appetite for UK commercial property remains robust although the lack of buying opportunities is curtailing transactions.