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In Brief - December 2023

UK commercial property update and outlook

December 2023

All Property annual total return jumped again as expected from -7.9% in October to -3.0% in November and could even finish the year back in positive territory. Industrial is once again the outperforming sector as the effects of the late 2022 outward yield shift fall out of the figures. Encouraging December inflation data underlines our position that Q4 2023 will have been the bottom of the investment market and there will be scope for some substantive interest rate cuts from mid-2024. Despite weakness in the real economy, investor confidence is set to pick up next year, with greater depth and competition to the buyer pool.

Read more for the most recent occupier and investment updates, economics data and property forecasts.


Industrial annual total return, November 2023

2025 GDP growth forecast

2025 average CPI inflation forecast

End-2025 Bank Rate forecast


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