New forecasts from EY Item Club report UK GDP to grow by 0.8% this year, down from the 1.0% growth projected in February, with a 2026 forecast down from 1.6% to 0.9% as the effects of US tariffs filter through to the economy.

HSBC research expects the base rate to be cut once per quarter, falling to 3% in Q3 2026. Morgan Stanley suggests that rates could be as low as 2.75% in H1 2026.

Office for National Statistics reported that retail sales volumes rose unexpectedly in March, by 0.4% vs 0.7% in February, the third consecutive monthly rise.

GfK - An NIQ Company reported that consumer confidence dropped four points in April, to -23, the lowest point since November 2023.

Lambert Smith Hampton reports that total investment volumes for Q1 reached £9.3 billion, a 35% drop from Q4 2024’s two-and-a-half-year high, and the lowest since Q3 2023.

Sofidy, the French investor has acquired Warwickshire Shopping Park from AEW Urban Real Estate Fund for over £20m.

Supermarket Income REIT has completed a £90m refinancing with Barclays.

Maslow Capital has agreed a £29m loan to the JV between Prima Asset Management and Real Living to fund a 189-bed PBSA scheme in Oxford.

Lidl GB is to invest £500m in UK expansion, adding 40 new stores this financial year.

Blacklight Capital Partners has put the recently completed 535-bed Limelight PBSA scheme in Liverpool up for sale for £61m+.

Legal & General has launched the £90m sale of the 209-unit York & Elder BTR scheme, the first BTR development in Brighton.

Nationwide Building Society reported that house prices fell by 0.6% in April, the fastest month-on-month decline in nearly two years.

Financial Times reports that outflows from ESG funds have hit a record high as the sustainable investing backlash intensifies. Over $8.6bn was pulled from sustainable funds in Q1 2025. Notably, European investors were net sellers for the first time, pulling $1.2bn.

Mark Charlton – Real Estate Research Consultant at Waypoint