Office for National Statistics reports that the UK economy unexpectedly grew by 0.1% in Q4 2024 following a 0.4% rise in December. Economists had expected the economy shrink 0.1%. We may yet avoid recession. Across the year as a whole, GDP is estimated to have grown by 0.9%.

National Institute of Economic and Social Research (NIESR) is forecasting GDP growth of 1.5% this year, double the recent Bank of England forecast of 0.75%.

British Retail Consortium reported that retail sales volumes rose 2.6% y/y in January, well above the 12-month average of 0.8% and up from an increase of 1.2% this time last year.

Knight Frank reports that UK student investment transactions reached £3.9bn in 2024, a 14% uplift after 2023. £575m was invested in Q4 2024.

UBS has launched the sale of The Oaks Retail Park in Harlow at an asking price of around £29.5m, which would give a net initial yield of 6.25%.

Puma Property Finance has agreed a £43m development facility to Vita Group to back the delivery of a new 260-bed PBSA scheme in Newcastle.

Regal has secured a £115m development loan from Maslow Capital to support the delivery of a 264-bed PBSA scheme in Camden.

Homebase will close 33 stores this month as administrators wind down the estate.

Knight Frank reports that residential landlords in England and Wales could face a potential bill of £21.6bn to meet the government’s new EPC requirements.

Following the US withdrawal from the Paris Climate Agreement and Trump’s declaration to “drill baby drill”, the green agenda has taken a further hit with bp announcing that it will "fundamentally reset" its strategy. It is widely expected to announce a scale back on renewable projects and increase oil and gas production following similar moves from rivals including Shell and Equinor.

Mark Charlton – Real Estate Research Consultant at Waypoint