At the tail-end of 2018, business confidence had diminished in advance of the looming exit date. Economic growth remains muted and we do not expect growth to pick up at least until next year.
The Bank of England voted unanimously to keep the ‘Bank Rate’ on hold in February amid Brexit uncertainty and mounting pressure from a global slowdown.
All-property rental growth has slowed over the course of 2018 with weak retail property performance being a particular drag.
Investment activity remained robust in 2018 despite political and economic uncertainty intensifying. Annual investment transaction value for the UK commercial market totalled circa £62 billion in 2018.