Christmas cheer hits Oxford Street as retail availability sinks to seven-year low
New store openings herald a revival for the famous thoroughfare
Oxford Street’s revival is nearly complete as a host of new retail openings have pulled the sector's availability on London’s most famous shopping street down to its lowest level s...
UK economy shrinks for the second successive month
Budget uncertainty and weak spending in pubs contributed to October’s decline
The UK economy contracted for the second month in a row in October as Budget uncertainty impacted business and consumer confidence.
City submarkets leading the demand recovery in London as fringe areas struggle
Core heartlands in the City and West End fare best in CoStar’s ranking
Demand for office space across Greater London remains subdued and vacancies continue to rise, but some parts of the capital are performing far better than others.
Spotlight on Westminster offices: enduringly low vacancy piques investor interest
London’s government hub has one of the lowest vacancy rates in the capital
Steady demand and office-to-residential conversions have kept Westminster’s vacancy rate at historically low levels in recent years, and it now sits well below the London average. ...
New effective and prime rent indices shine a light on what office occupiers are paying
Headline rents remain high in most office markets but are being protected by bigger incentives
Despite the sharp rise in office vacancies in recent years, average asking rents across the UK have continued to grow in nominal terms at a rate of 2% per year.
UK economy barely grew in the third quarter and shrank in September
Budget concerns cited as a key reason behind the recent slowdown
The UK economy barely grew at all in the third quarter of 2024 as concerns about tax rises stymied economic activity and investment ahead of the October Budget.
Opportunity knocks? Yields stabilise across the board as UK investment revives
Another likely interest rate cut this week should result in further positive momentum heading into 2025
Improving sentiment towards UK commercial property was reflected in rising activity and stabilising yields in the third quarter of 2024, with a growing sense that a corner has been...
UK office take-up jumps to a three-year high
Some big lettings push leasing up 25% year-over-year as business confidence grows
National office leasing rose sharply in the last quarter as more companies committed to future space decisions in an improving economic climate, mostly involving moves into high-qu...
London and New York office vacancy gap closes
Rising vacancy in London contrasts with stabilising vacancy in New York, but London’s premium market is in far ruder health
London’s office vacancy rate has entered double figures for the first time this century as supply additions and subdued demand continue to push up the amount of empty space.
UK economy returns to growth ahead of October Budget
Gross domestic product expanded by 0.2% in August after two months of zero growth
The UK economy returned to growth in August after two months of stagnation, but momentum has eased ahead of the October Budget.
Tenant exodus continues in Ealing as Elizabeth Line fails to ignite demand
Office vacancies in the West London borough are now well above the London average
Ealing has seen one of the most significant vacancy increases of all London office submarkets in recent years, with areas on the fringes of central London struggling to attract new...
London office investment has nosedived during the downturn but some submarkets have bucked the trend
Parts of the West End and some fringe locations have seen increases
Office investment in the capital has plunged by 59% during the market downturn as rising interest rates, pricing uncertainty and concerns over occupier demand have reduced activity...
Shopping centre owners take the hit as values slump by nearly 60% on average
Malls are trading at a fraction of prior sale prices as buyers sense bargains
In a quiet commercial property investment market, one type of deal gaining traction this year is the sale of shopping centres, many of which are changing hands at a fraction of the...
UK economy flatlines after a strong start to the year
Gross domestic product failed to grow in June or July
The UK economy failed to grow for the second successive month in July as momentum eases following a strong start to the year.
UK Office Sublease Availability Returns to Pre-Pandemic Levels
Share of Overall Space Available for Sublease Sinks to Eight-Year Low, With Implications for Rents
The amount of tenant-controlled office space on the market has fallen steadily over the past few years and is now back to 2020 levels, following a big rise during the pandemic.
New Office Construction Fell Off a Cliff in the Second Quarter
Weakest Period for Developers Starting New Office Schemes in Over 15 Years
UK office development starts virtually ground to a halt in the second quarter of 2024 as the upcoming general election and ongoing financing challenges persuaded potential develope...
Value-Add Share of London Office Investment Jumps to a Record High
Investors Are Targeting Discounted Redevelopment Opportunities Amid an Ongoing Flight to Quality
London’s office investment market remains subdued, but opportunistic investors have rarely been more active, eyeing outsized returns in the belief that the flight-to-quality trend ...
UK Economy Continued its Upward March in the Second Quarter of 2024
Services Led the Way as Gross Domestic Product Expanded by 0.6%
Last year’s technical recession is now firmly in the rearview mirror as the latest figures showed that the UK economy posted another strong quarter of growth between April and June...
Things Can Only Get Better? UK Office Yields Rise to Highest Level Since Tony Blair Came to Power
Large Spread Over Government Bonds May Soon Tempt Buyers as Debt Costs Begin to Fall
Weak investor sentiment towards the office sector continued to be reflected in yield movement in the second quarter of 2024, as yields rose to their highest level in 27 years. Coin...
Which UK Markets Have the Most and Least Retail Space Per Capita?
Peterborough, South Coast and Milton Keynes Feature Highly on One Side of the Equation
The UK retail sector is in recovery mode after a difficult few years of lockdowns, retailer administrations and runaway inflation. But as landlords and investors regroup and look t...