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The office market in the initial half of 2023 can best be described as challenging. Persistently elevated inflation, labour market scarcities, and consecutive interest rate increases have intertwined to temper predictions of economic expansion and weaken both market and corporate assurance. Consequently, the impact on real estate in the first half of 2023 has led to a laboured pace in leasing and investment transactions, although interest remains active.

Anticipations for the forthcoming six months reveal a more hopeful stance for the latter half of 2023.

Read our UK Cities Mid-Year Review for the latest insights.

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