Bristol office market at a turning point as vacancies fall and leasing accelerates

Falling vacancies and strengthening occupier demand indicate that the Bristol office market has entered the upswing phase of the next cycle. The vacancy rate, which had been rising since the beginning of 2020, peaked at almost 11% in first quarter of 2025 before falling to 10.3% in the second quarter. Forecasts suggest that vacancies will continue to fall over the coming years as demand improves and construction remains low.