This trend can be explained by several factors, including a moderate economic recovery, a recovery in demand for office and retail space, as well as a significant increase in demand for logistics and residential facilities.
It is important to note that the real growth in rental costs is uneven across different market sectors and regions in the UK.
For example, in the office sector, rents decreased by 0.5% nationwide, but in areas such as the City or the West End, they increased by 7.2% and 4.0%, respectively, according to CBRE and the Office for National Statistics.
In the housing sector, rent growth was 5.2%, according to MSCI and ONS. This was due to the lack of rental housing, from student dormitories to apartment buildings and private homes.
Source: UBS
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