Latest GDP figures suggest that the economy held up better than expected at the end of 2022 and that the start of a recession may be delayed until Q1 2023.
However, latest commercial property investment figures point to quite the opposite, marking one of the weakest ends to a year on record. Yields continue to rise, although there are signs that some sectors such as industrial are moving closer to stabilisation already.
Highlights in this months’ Snapshot include:
- Only £2.4bn transacted during December (80% below five-year December average)
- 2022 was a record-year for PBSA investment (£6.2bn)
- Yield expansion has started to slow after rapid repricing during the summer months
