The UK was the fastest growing economy in the G7 last year and has not shown the signs of the slowdown that many economists predicted would follow the vote to leave the EU in June. Employment levels continued to expand and business sentiment remained upbeat.
This positivity was reflected in a resurgent leasing market in Q4, following two quarters of inertia. Quarterly transaction volumes were the highest recorded since Q2 2015, with the City Core seeing particularly positive activity - over 1 million sq ft was let which was the first time volumes were at that level since mid 2014.
The market was supported by high volumes of preletting, while the number of transactions in excess of 50,000 sq ft reached 17.