Budget uncertainty hits investment but take-up of new space rises amid firms’ return-to-office mandates
Construction of offices, shops and warehouses in the UK has fallen to the lowest level in more than a decade amid rising build costs and uncertainty.
All commercial sectors have been hit, with construction across office, retail and industrial sectors down by 21% to 5.85m sq metres (63m sq ft) in the third quarter compared with a year earlier, according to the latest data from CoStar.