UK budget – higher taxes, higher borrowing and higher spending. While GDP is forecast to be slightly stronger in 2024 and 2025, it falls way thereafter. The financial markets reacted with an intensified sell-off of government bonds, pushing UK borrowing costs to their highest level of the year.

Global real estate investment is expected to rise by 7% in 2024, and 27% in 2025, reaching around US$950bn in the process. By 2026, the market should return to pre-Covid levels, surpassing US$1tn.

UK investment volumes were £8bn in Q3 2024 and £33.8bn YTD, an increase of 6.9% on the same period in 2023.

CBRE reports that total returns for the PBSA sector in the year to September were 9.8% vs all commercial property at 3.5%. PBSA has outperformed all commercial property for three consecutive years.

A JV between Meadow Partners and Roadside Real Estate plc has completed a 12-store sale and leaseback deal with Lidl GB for £70m.

Europa has completed the acquisition of a 342-unit, newly developed BTR scheme at Granary Quay, Glasgow from Dandara Living.

AEW reports that the property debt funding gap (DFG) in Europe could fall by 13% to €86bn over the next three years, with Germany and France expected to face greater refinancing issues.

Lidl GB is to open 10 new stores before Christmas.

Global Mutual and Patron Capital have secured planning consent for 287 PBSA units at St Johns Centre in Leeds.

The Parklane Group has secured planning consent for a 102-unit BTR scheme in Sheffield’s Wicker area.

The International Energy Agency (IEA) reports that investment in clean energy - solar PV, wind turbines, EVs, batteries, electrolysers and heat pumps will triple by 2035, from US$700bn to over US$2tn. The UK budget stated that Labour's investments in clean energy will create around 650,000 jobs.

Mark Charlton – Real Estate Research Consultant at Waypoint