RECESSION FEARS EASE The latest gross domestic product (GDP) statistics showed the economy grew more strongly than expected in July, significantly easing fears that the UK was on the verge of slipping into recession. Over the past month or so, a plethora of negative business surveys had raised serious concerns about the state of […]
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Transaction volume rebound unlikely In their recent ‘Market in Minutes’ report, covering the UK commercial property market, Savills has outlined that while investment volumes have been lower in comparison with recent averages, Q3 is expected to surpass the Q2 figure of £8.9bn. At this point in the year, Savills would usually expect a bounce in […]
MARKET BEHAVIOUR “LITTLE CHANGED” AS BREXIT HEADWINDS REMAIN The UK Commercial Property Market Survey for Q2, conducted by the Royal Institution of Chartered Surveyors, reports that demand is still solid across the industrial sector and that further growth in capital values is expected across both the prime industrial and office sectors over the coming year. […]
EMPLOYMENT AT NEW RECORD HIGH The latest batch of employment data released by the Office for National Statistics (ONS) shows that the UK labour market remains in robust health, with the total number of people in work rising to another record high. Statistics from the Labour Force Survey showed that a net 115,000 jobs were […]
PAY GROWTH STRONGEST IN A DECADE The latest batch of labour market statistics shows that UK workers’ basic pay is now growing at the fastest rate in nearly 11 years. According to data from the Labour Force Survey, average weekly earnings, excluding bonuses, rose by an annual rate of 3.6% in the three months to […]
UK WAREHOUSE TAKE-UP VARIES REGIONALLY Savills recent ‘Spotlight: Big Shed Briefing’ publication, focused on the UK warehouse sector, shows strong overall take-up, with wide regional variations. Take-up for H1 2019 increased 28% on the long-term average for the first half of a year, reaching 16.07m sq. ft. Taken in isolation, Q2 was exceptional with 9.55m […]