The logistics market continues to show resilience, with activity levels in Q3 rebounding on a sequential basis after a challenging second quarter, following the spike in uncertainty that followed the ‘Liberation Day’ tariff announcements. Macroeconomic risks have eased somewhat, supported by greater stability in trade policy, allowing some postponed deals to complete in the third quarter. More widely, the sector remains aligned with a narrative of ‘normalisation.’ In occupational markets, rental growth continues to slow in the major markets, in line with a more balanced outlook for supply and demand.

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