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In Brief - January 2023

UK commercial property update and outlook

January 2023

The UK commercial property market finished the year in dramatic fashion, with annual total return sliding precariously to -10.1% in December after peaking at over +20% in the summer only a few months earlier. The current repricing may have pipped the global financial crisis in terms of speed, but the duration is expected to be much shorter and overall size notably smaller. With market pricing already at or near the bottom there is less impetus for those looking to disinvest and self perpetuate the downswing any further. This points to a more optimistic outlook for 2023 despite the recession.

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


All Property annual total return, Dec 2022

0.7% down statistic icon

2023 GDP growth forecast

4.2% up statistic icon

2023 unemployment forecast

6.8% down statistic icon

2023 CPI inflation forecast

Key contacts

John Rodgers


Mark Trowell


Richard Moir


Ben Clarke


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