The revival in UK office demand in the second half of last year dissipated in the first half of 2026, and the national vacancy rate has inched upward accordingly. CoStar’s baseline office forecast calls for stability in the near term and for vacancies to slowly compress from the middle of next year, as net supply losses meet modestly improving demand.
UK office forecast calls for demand to outpace supply from mid-2027 onwards
Gradual vacancy compression to be driven as much by a loss of supply as rising demand
CoStar Analytics
August 12, 2026 | 9:41 AM
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