GDP growth fell by 0.2% in Q4 as manufacturing sector growth declined by nearly 1%.
London City quarterly office lettings fell with increasing concerns over demand fundamentals.
Gross quarterly take-up improved for industrial property, reducing availability, but significant levels of vacancy will need to be absorbed before rental value growth ensues.
Investor risk attention has heightened, sharpening the focus on prime property as a method of capital preservation when faced with limited investment alternatives.
Source : AXA Real Estate