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In Brief - January 2024

UK commercial property update and outlook

January 2024

All Property annual total return increased sharply again in December to finish the year effectively at zero. Offices, particularly London City offices, significantly underperformed in 2023 while Industrial total return has surged ahead again, dominating the other sectors over all time horizons. The final quarter of 2023 was likely the bottom of the market and there was the lowest number of investment transactions since Q2 2011. Investor confidence and property returns are set to pick up, but there is limited scope for yield compression.

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


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