Commercial Real Estate Market Review

Global financial markets have been volatile this year, although recent weeks have seen an improvement in sentiment based on a growing expectation that interest rates have peaked in most advanced economies.
The Q3 2023 UK GDP figures showed output flatlined on a q-on-q basis, which was down on the 0.2% recorded in Q2 and below the 10-year average of 0.4%.
The monthly GDP figures have been volatile, with output shrinking by -0.6% in July, then returning to growth at 0.1% in August, rising to 0.2% in September.
CPI inflation stood at 4.6% in the year to October 2023, which was down markedly on the September figure of 6.7%.