FOTBW_PPT_Feb_2023
10/02/2022
Executive Summary
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SUMMARY EXECUTIVE
Total Return
Net Initial Yield
10yr Gilts
GDP
3.3%
1.0% One Year
0.1%
0.2% One Year
-3.3% -10.1%
5.1%
4.4% One Year
One Month
One Year
One Month
One Month
One Month
KEY POINTS
PERFORMANCE
Quarterly investment volume (£m)
Total return (% y/y)
- Investment volumes for Q4 reached just £10.6 billion, the lowest quarterly volume since Q2 2020. 2022 was a tale of two halves; muted H2 investment volumes were in sharp contrast to a buoyant H1. Annual investment volumes totaled £66 billion, 16% below 2021 and 1.6% below the 10-year average.
£25,000
-8% -6% -4% -2% 0%
-2.6%
-3.7%
£20,000
-7.2%
-12.9%
£15,000
-14.9%
-16% -14% -12% -10%
£10,000
- The spike in bonds that we saw as a result of the mini-budget has been mitigated, with ten-year gilts down to 3.3% as of the time of writing.
£5,000
Industrial
Retail
Specialist
Central London Offices
National Offices
£0
- After a period of inactivity, there are signs of liquidity in the market, although there continues to be a gap between buyer and seller expectations.
2006 2008 2010 2012 2014 2016 2018 2020 2022
Source: Real Capital Analytics
Source: MSCI UK Monthly Property Index, December 2022
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