UK Capital Markets Review & Outlook 2022/2023

JLL’s Capital Markets team, informed by year-end transaction volumes data and the results of an investor confidence survey undertaken at the start of 2023, share their analysis and views.

February 28, 2023
  • Cameron Ramsey
  • Jon Neale
  • Andrew Frost

Although 2022 began strongly with a record £16.1bn transacted in Q1 alone, volumes decreased through the year. Investment was £13.4bn in Q2, £11.3bn in Q3 and then £7.1bn in Q4, highlighting the incremental reduction in activity and confidence across the market. Total investment volumes for 2022 closed at £48.7 billion, a 22% reduction from 2021’s volumes of £62.6 billion and an 8% below the 10-year average.

While last year saw volumes fall each quarter, we expect the inverse to be true in 2023. The year will begin much as 2022 finished, with challenging macro-economic conditions and uncertainty around pricing resulting in weak sentiment and subdued investment activity. Over the course of the year we expect these conditions to markedly improve.

Read the report to find out more.

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