PROPERTY RISKS, REALITIES AND RECOVERY IN 2023

Risks remain visible in 2023, but the realities and potential for recovery may be understated linked as they are to a wide range of confusing political, economic and financial factors. The Chancellor’s Spring Statement will provide a point of departure for a discussion about inflation, monetary policy, interest rates and the impact on the economy and commercial property. Impacts from ongoing structural change will be clearer, especially the impact of ESG awareness.  Likewise, positive UK long-term prospects in comparison to other countries will be noted as well as notes on the relative performance of UK cities and the state of ‘levelling up’.

• Economic and financial backdrop – a ‘seesaw of sentiment’
• Market comments – latest market metrics across the UK occupier and investment markets
• An update on structural change: impact of hybrid working, e-commerce, AI and ESG on commercial real estate
• Short-term outlook – economic and commercial property outlook
• Long-term outlook – demographic growth and UK performance compared to its international piers
• Notes on UK regional development and the levelling up agenda

Walter Boettcher, Head of Research and Economics, Colliers