A Cushman & Wakefield Research Publication

THE ECONOMIC RECOVERY IN THE

EUROZONE

CONTINUES TO GAIN MOMENTUM AS POLITICAL

RISK RECEDES FOLLOWING THE FRENCH

PRESIDENTIAL ELECTION

NO PLAN TO INCREASE INTEREST RATES

BEFORE

ADJUSTING THE PACE OF ASSET PURCHASES, WHICH

COULD BEGIN TAPERING AS EARLY AS Q4 THIS YEAR

THE MAIN IMPACT FROM

BREXIT

TO DATE HAS BEEN THE 10%

DEPRECIATION IN STERLING WHICH IS HELPING TO IMPROVE

THE COMPETITIVENESS OF UK EXPORTERS RELATIVE TO THEIR

EUROPEAN COUNTERPARTS

HIGHER

INFLATION

IS EATING INTO REAL WAGES IN THE UK WHICH

ARE NOW FALLING FOR THE FIRST TIME SINCE 2014

THE COMBINATION OF

LOW DEVELOPMENT

AND

MODERATE DEMAND

HAS

LED TO AN UNPRECEDENTED 7-YEAR PERIOD OF POSITIVE AND STABLE, YET

MODEST, RENTAL GROWTH

OFFICE COMPLETIONS

HAVE BEEN GRADUALLY INCREASING YEAR BY YEAR SINCE

2013 AND ARE SET TO MOVE ABOVE THE 10-YEAR AVERAGE IN 2017 AND 2018

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