Big 6 H1 2022 Report

Leasing momentum across the Big 6 regional market slows

August 18, 2022
  • Elaine Rossall
  • Barrie David
  • Vicky Heath

The momentum seen in the Big 6 regional office market in the latter part of 2021 slowed during H1 2022 with take up 25% down on H2 2021 volumes. Bristol however bucked this trend and saw office leasing activity increase by 18% in comparison to the second half of 2021. 

Supply across the Big 6 regional markets started to decline whilst new build space dominates construction. Prime rents continued to increase across the Big 6 with Bristol and Edinburgh seeing the strongest growth.

The UK investment market saw transaction volumes total £29.0 billion during the first half of the year. Within the Big 6 markets office investment volumes totalled £743 million in H1, with Q2 activity accounting for £517 million. Birmingham and Manchester have dominated activity so far this year, particularly during Q2 when Birmingham’s volumes of £261 million and Manchester’s volumes of £161 million accounted for 82% of the quarterly total across all six cities. 

Read more in our Big 6 office market report, available now. 


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