Our latest view on the outlook for the UK economy and commercial property market.

  • The UK is continuing to emerge from the third set of national lockdowns. On 17th May, the second stage of the recovery roadmap was enacted, permitting indoor hospitality and leisure to resume operations once again. The third and potentially final set of relaxations could occur on 21st June at the earliest, although evidence of community transmission of a variant which originated in India has raised questions on if this date will be met.
  • Covid-19 vaccinations continue to be administered across the UK, with 38.4 million people having received their at least their first of two doses as of 25th May. In response to the progress in the vaccine rollout, low case numbers and high testing capacities in the UK, the government has permitted international travel to select countries, organised by a traffic light system.
  • The ONS reported that GDP grew by 2.1% in March 2021, the fastest growth since August 2020. This positive figure came as schools reopened across much of the UK, but before the first stage of the recovery roadmap had been reached (12th April), meaning the majority of restrictions were still in place. As such, the recovery is expected to be strong as the economy gets back in gear.
  • In the annual Budget, the Chancellor focused on balancing short-term economic support with the long-term need to address the hole in public finances. This included a further extension to the Coronavirus Job Retention Scheme (CJRS) to the end of September while waiting until 2023 to increase corporation tax.

Economic and property market review May 2021

Economic and property market review April 2021

Economic and property market review Winter 2020/21

Economic and property market review Autumn 2020

Economic and property market review Summer 2020

Economic and property market review Spring 2020

Economic and property market review Winter 2019

Economic and property market review Autumn 2019

Economic and property market review Summer 2019

Economic and property market review Spring 2019

Economic and property market review Winter 2018

Economic and property market review Autumn 2018

Economic and property market review Summer 2018

Economic and property market review Spring 2018

Key Contact

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