Just as in many other countries, the housing market in the UK grew substantially during the coronavirus pandemic, fueled by robust demand and low borrowing costs. Nevertheless, high inflation and the increase in mortgage rates has led to house price growth slowing down. According to the forecast, 2024 is expected to see house prices decrease by three percent. Between 2024 and 2028, the average house price growth is projected at 2.7 percent. A contraction after a period of continuous growth In June 2022, the UK's house price index exceeded 150 index points, meaning that since 2015 which was the base year for the index, house prices had increased by 50 percent. In just two years, between 2020 and 2022, the index surged by 30 index points. As the market stood in December 2023, the average price for a home stood at approximately 284,691 British pounds. Rents are expected to continue to grow According to another forecast, the prime residential market is also expected to see rental prices grow in the next years. Growth is forecast to be stronger in 2024 and slow down in the period between 2025 and 2028. The rental market in London is expected to follow a similar trend, with Central London slightly outperforming Greater London.

According to the forecast, the North East and Wales are the regions in the United Kingdom estimated to see the highest overall growth in house prices over the five-year period between 2024 and 2028. Just behind are North West, Yorkshire & the Humber, and Scotland, which are forecast to see house prices increase by 20.2 percent over the five-year period. In London, house prices are expected to rise by 13.9 percent.

According to the forecast, house prices in London are expected to fall slightly in 2024, followed by a recovery in the following years. The decline can be explained with the cost of living crisis and the dramatic increase in borrowing costs. As the economy recovers in the next five-years, house prices for mainstream properties are forecast to rise by almost 14 percent. In 2023, the average house price in London ranged between 350,000 British pounds and 1.4 million British pounds, depending on the borough. Barking and Dagenham, Bexley, Newham, and Croydon were some of the most affordable boroughs to buy a house.

Key information about House Prices Growth

• EU house prices grew 3.8% YoY in Sep 2024, following an increase of 3.0% YoY in the previous quarter.
• YoY growth data is updated quarterly, available from Mar 2006 to Sep 2024, with an average growth rate of 3.6%.
• House price data reached an all-time high of 11.2% in Dec 2006 and a record low of -4.8% in Jun 2009.

House price inflation in the UK is forecast to fluctuate from a -2.3 percent to 3.7 percent between 2023 and 2028. In 2024, house prices were forecast to fall by 2.3 percent, after soaring by close to 10 percent in 2022.

The Report Covers UK Commercial Property Market Forecast and Size. The Market is Segmented by Type (Office, Retail, Industrial, Logistics, Hospitality, and Multi-Family) and by Key City and Region (England, Wales, Northern Ireland, Scotland, London (City), and Rest of the United Kingdom).

Prices for prime residential real estate in Central London were expected to decline slightly in 2024, followed by a gradual increase until 2028, according to a August 2024 forecast. During the five-year period, the prices are forecast to rise by 16.4 percent. In comparison, regional prime property prices and Outer London prime property prices are forecast to grow at a lower rate.

Rental rates of prime rental properties in Central London are forecast to increase by about one percent more than prime properties in the commuter zone between 2024 and 2028. Rental growth during this period is expected to reach 19 percent in Central London and almost 17 percent in Outer London. Most of the increase is forecast to take place in 2026. In comparison, rents of mainstream properties are expected to increase at a lower rate.

Nationwide Housing Prices in the United Kingdom increased to 539.60 points in February from 535.10 points in January of 2025. This dataset provides - United Kingdom Nationwide Housing Prices- actual values, historical data, forecast, chart, statistics, economic calendar and news.

The UK residential rental market is poised for significant growth, with forecasts indicating a cumulative increase of nearly 18 percent by 2029. This surge is expected to be front-loaded, with a robust eight percent rise anticipated in 2024. Rental growth has accelerated notably since 2021, with August 2024 experiencing a decade-high annual percentage growth. The trend reflects the complex interplay between housing affordability, mortgage rates, and supply of rental homes, as the UK housing market navigates a period of transition.

The UK commercial real estate hospitality market, encompassing hotels, spas, resorts, and other property types, is experiencing robust growth, driven by increasing tourism, a rising affluent population, and a surge in domestic leisure travel. The market's Compound Annual Growth Rate (CAGR) exceeding 4% indicates a consistently expanding sector. Key players like InterContinental Hotels Group, Premier Inn, and Travelodge are shaping the competitive landscape, alongside significant investments from firms such as LRC Group and Brookfield AM. The segmentation by property type reveals a strong focus on hotels and accommodations, reflecting the dominance of the traditional hotel market. However, the "Other Property Types" segment suggests an emerging trend towards diversification into niche hospitality offerings like boutique hotels, serviced apartments, and unique lodging experiences. Regional analysis indicates that the UK market constitutes a significant portion of the European hospitality real estate sector, supported by its robust tourism infrastructure and appeal to both domestic and international travellers. Future growth will likely be influenced by factors such as economic stability, government policies related to tourism, and evolving consumer preferences towards sustainable and experiential hospitality. The market's expansion is further fueled by technological advancements in hotel management systems, online booking platforms, and personalized guest experiences. Despite potential restraints such as economic downturns, fluctuating exchange rates, and increasing operating costs, the long-term outlook for the UK commercial real estate hospitality market remains positive. The consistent growth in the sector provides attractive investment opportunities for both domestic and international players. Further diversification into luxury segments and innovative hospitality models will contribute to sustained growth throughout the forecast period of 2025-2033. A focus on sustainable practices and responsible tourism will also play a vital role in shaping the future of the market. Analyzing regional data within the UK itself will provide further insights into localized growth opportunities and the specific dynamics of different areas. This report provides a detailed analysis of the UK commercial real estate hospitality market, covering the period from 2019 to 2033. With a base year of 2025 and an estimated year of 2025, this in-depth study offers a comprehensive forecast for 2025-2033, building upon historical data from 2019-2024. The report delves into market size (in millions), key trends, and future projections, providing invaluable insights for investors, developers, and industry stakeholders. It examines the impact of recent events and emerging trends shaping the sector. This report is crucial for understanding the complexities of this dynamic market and making informed business decisions. Recent developments include: November 2022: InterContinental Hotels & Resorts announces the launch of 10 exclusive non-fungible tokens (NFTs) in collaboration with British contemporary artist Claire Luxton. A joint first for both, each NFT is inspired by the beauty of global travel using the natural flora and fauna signature of the artist's work to illustrate the brand's storied heritage and far-flung destinations., August 2022: Travelodge opens its first budget luxe hotel in Hexham and announces its North East hotel expansion program. Hexham Travelodge is the second hotel the group has opened in the North East region within the last seven months. In December 2021, the hotel chain opened the first budget hotel at Europe's biggest business park, Newcastle Cobalt Business Park.. Key drivers for this market are: Increasing need for contemporary office spaces, Urban and semi-urban lodging are acting as other significant growth-inducing factors. Potential restraints include: Availability of Financing. Notable trends are: The Budget Friendly Hotel is Making a Way for Branded, Independent Midscale, and Upscale Hotels.

Home Ownership Rate in the United Kingdom decreased to 64.50 percent in 2023 from 64.70 percent in 2022. This dataset provides the latest reported value for - United Kingdom Home Ownership Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Snapshot img

Funeral Homes And Funeral Services Market Size 2025-2029

The funeral homes and funeral services market size is forecast to increase by USD 34.7 billion at a CAGR of 7.4% between 2024 and 2029.

The market in North America is experiencing significant growth, driven by various factors. New product and service launches by professional companies are introducing innovative solutions, such as the use of chemicals for preservation and personalization, which cater to the evolving consumer preferences. Strategic partnerships and acquisitions among market participants are enhancing their offerings and expanding their reach. However, the increasing costs of raw materials, particularly chemicals, pose a challenge to the financial sustainability of funeral homes and funeral services. Furthermore, insurance coverage for funeral services and home services continues to be a key consideration for consumers, highlighting the importance of professional development and training for industry personnel.Catering services, a growing trend In the market, are also adding value to the overall offering by providing customized food and beverage options for funeral gatherings.

What will be the Size of the Funeral Homes And Funeral Services Market during the forecast period?

Request Free SampleThe funeral services market encompasses a range of offerings, including funeral planning, embalming, cremation, burial services, and end-of-life care. This market is driven by several factors, including an aging population and cultural attitudes towards death and mourning. Family-owned funeral homes and multinational corporations alike cater to diverse consumer needs, providing personalized funeral experiences, eco-friendly burial options, and customized memorial services. Cremation and direct cremation have gained popularity in recent years, with cremation rates outpacing burial rates in some regions. Pre-need and at-need planning services allow individuals to pre-arrange and prepay for their funeral services, providing peace of mind for both the individual and their families.Service providers offer transportation, body preparation, interment, funeral director, embalming, and mortician services. Insurance firms also play a role In the market, offering funeral insurance policies to help families cover the costs of funeral services. Overall, the funeral services market is expected to continue growing, driven by demographic trends and evolving consumer preferences.

How is this Funeral Homes And Funeral Services Industry segmented?

The funeral homes and funeral services industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. ServiceAt-needPre-needMode Of BookingOfflineOnlineGeographyEuropeGermanyUKFranceItalyNorth AmericaCanadaUSAPACChinaIndiaJapanSouth AmericaBrazilMiddle East and Africa

By Service Insights

The at-need segment is estimated to witness significant growth during the forecast period.The market experienced significant growth in 2024, with the at-need segment leading the way. Driven by the increasing global population and the inevitable reality of mortality, this segment's dominance can be attributed to the rising number of deaths, particularly those resulting from accidents. companies In the market offer a comprehensive suite of services, including at-home offerings such as transportation, ceremony organization, counseling, and post-funeral arrangements. These customizable services enable families to honor their loved ones in accordance with their wishes and cultural traditions, potentially fueling market expansion during the forecast period. The funeral industry caters to diverse clientele, providing traditional funeral services, cremation, burial, and eco-friendly options, as well as personalized memorial services, direct cremation, and non-traditional funerals.Online memorial platforms and virtual funeral arrangements have also emerged, reflecting evolving cultural norms and the increasing importance of digital solutions in our lives. The market encompasses both family-owned funeral homes and multinational corporations, adhering to industry standards and offering affordable options for the middle class, including pre-arranging and pre-financing funeral services.

Get a glance at the market report of share of various segments Request Free Sample

The At-need segment was valued at USD 48.50 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 31% to the growth of the global market during the forecast period.Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

For more insights on the market size of various regions, Reques

Snapshot img

UK Facility Management Market Size 2025-2029

The facility management market in UK size is forecast to increase by USD 21.5 billion at a CAGR of 4.8% between 2024 and 2029.

The facility management market is experiencing significant growth, driven by several key trends. One notable trend is the increasing adoption of cloud based solutions, which offer enhanced flexibility, scalability, and cost savings. Another trend is the growing preference for green cleaning products, as organizations prioritize sustainability and healthier work environments. 
Additionally, budgetary constraints continue to influence the market, with many organizations seeking cost-effective solutions to manage their facilities efficiently. These trends are shaping the future of the facility management industry, offering opportunities for innovation and growth.

What will be the Size of the market During the Forecast Period?

Request Free Sample

The facility management market encompasses the services and technologies that enable organisations to effectively maintain and optimize their physical assets, including buildings and infrastructure. Key trends in this market include the increasing adoption of Internet of Things (IoT) and Artificial Intelligence (AI) technologies for energy efficiency, sustainability, and energy conservation. Building Information Modeling (BIM) and Data Analytics are also driving innovation, enabling better facility management through improved data visibility and analysis.

How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  Soft facility management
  Hard facility management


End-user

  Commercial
  Government
  Residential


Service Type

  Outsourced
  In-house


Geography

  UK

By Type Insights

The soft facility management segment is estimated to witness significant growth during the forecast period. The soft services segment dominates the UK facility management market due to their cost-effectiveness compared to hard services. With minimal technical expertise needed, new companies can enter this sector and achieve economies of scale. Soft services encompass essential functions like cleaning, transportation, catering, and security. The expansion of this segment hinges on the increasing demand for services such as housekeeping, pest control, landscaping, and waste management. Soft services play a crucial role in maintaining the functionality and appearance of buildings, ensuring the comfort and safety of workers and visitors. Organizations across various sectors, including commercial properties, institutional and infrastructure, rely on these services to optimize their operations and enhance sustainability through energy efficiency and conservation.

Get a glance at the market report of share of various segments Request Free Sample

Market Dynamics

Our UK Facility Management Market researchers analyzed the data with 2024 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Both in-house and outsourced facility management solutions are available, with Hard FM focusing on the maintenance of building systems and Soft FM encompassing services like cleaning, security, and catering.
Additionally, leading players In the market include Sodexo, APLEONA, JLL, and CBRE, among others. Gross Value Added (GVA) and BOMACON (Building Owners and Managers Association of Canada) are key industry associations. The market is expected to grow significantly due to the increasing importance of energy management and sustainability in facility operations. Construction firms and Real Estate Investment Trusts (REITs) are major consumers of facility management services. APogee Corporation, Infraspeak, and BEIS (Department for Business, Energy and Industrial Strategy) are also notable entities influencing the market dynamics.

What are the key market drivers leading to the rise in adoption of UK Facility Management Market?

The Facility Management market in the UK is undergoing substantial growth, driven primarily by the rising demand for technologically advanced, cloud-based solutions. Notable companies, including Sodexo and Apleona, are addressing this trend by introducing innovative cloud-platforms, such as Amey's new cloud platform launched in January 2024 and CBRE's upgraded AI-integrated software from December 2023. Infraspeak, a leading IoT-based facility management software provider, has experienced increased adoption due to its real-time asset monitoring capabilities.
Key players like JLL and Apogee Corporation offer customised services, including energy manage

According to the figures, as of November 2021, it can be seen that the number of housing transactions in the United Kingdom was forecast to fluctuate in the next five years and reach 1.2 million in 2026. House prices are expected to continue their year-on-year increase in this period.

Commercial real estate in the UK is expected to see an annualized total return of 7.5 percent between 2024 and 2028. During that period, capital values are forecast to grow faster than rents. Within the sector, industrial and logistics real estate stands out as the commercial property type with the highest total returns.

Industrial real estate is forecast to experience the highest annualized capital growth in the commercial real estate sector in the UK between 2024 and 2028. On average, capital values for commercial property are expected to increase by 2.5 percent per year, while for industrial and logistics real estate, that figure amounted to four percent. Additionally, industrial is forecast to experience the highest return on investment in the commercial property sector.

The average house price in Belfast has increased since 2015, with minor fluctuations over time. The house price index is calculated using data on housing transactions and measures the development of house prices, with 2015 chosen as a base year when the index value was set to 100. In June 2024, the house price index reached 159, meaning that house prices have grown by 59 percent since 2015 and 6.3 percent since the same month in 2023. Among the different regions in the UK, West and East Midlands experienced the strongest growth.

Mortgage rates increased at a record pace in 2022, with the 10-year fixed mortgage rate doubling between March 2022 and December 2022. With inflation increasing, the Bank of England introduced several bank rate hikes, resulting in higher mortgage rates. In September 2023, the average 10-year fixed rate interest rate reached 5.1 percent. As borrowing costs get higher, demand for housing is expected to decrease, leading to declining market sentiment and slower house price growth. How have the mortgage hikes affected the market? After surging in 2021, the number of residential properties sold declined in 2022, reaching close to 1.3 million. Despite the number of transactions falling, this figure was higher than the period before the COVID-10 pandemic. The falling transaction volume also impacted mortgage borrowing. Between the first quarter of 2023 and the first quarter of 2024, the value of new mortgage loans fell year-on-year for fourth straight quarters in a row. How are higher mortgages affecting homebuyers? Homeowners with a mortgage loan usually lock in a fixed rate deal for two to ten years, meaning that after this period runs out, they need to renegotiate the terms of the loan. Many of the mortgages outstanding were taken out during the period of record-low mortgage rates and have since faced notable increases in their monthly repayment. About five million homeowners are projected to see their deal expire by the end of 2026. About two million of these loans are projected to experience a monthly payment increase of up to 199 British pounds by 2026.

The average house price in British Columbia in 2024 stood at about 982,100 Canadian dollars and, according to the forecast, is set to increase by two percent, reaching 1,001,871 Canadian dollars in the following year. The average house price in Canada is forecast to grow in the next two years.