UK Housing IHS Markit/CIPS Construction PMI (Apr.) Strong demand for new projects brought further growth in output during April, according to the latest construction PMIs. But there is also growing evidence of cost pressures, though as yet this does... 7th May 2021 · 2 mins read
UK Commercial Property Data Response RICS Construction Market Survey (Q1) The RICS Construction Survey points to a rise in output at the start of this year, with the highest workload reading since Q1 2016. Looking ahead, respondents are more optimistic about the outlook but... 6th May 2021 · 2 mins read
UK Commercial Property Data Response Lending to commercial property (Mar.) We think the extension of payment holidays boosted net lending again in March. But as the economy bounces back in H2, lenders are less likely to allow for these concessions and we expect them to... 4th May 2021 · 2 mins read
UK Commercial Property Data Response RICS Commercial Property Market Survey (Q1) The Q1 RICS survey showed that while occupier demand continued to fall, investment enquiries picked up, mostly due to rising industrial activity. Looking ahead, surveyors are less downbeat about... 29th April 2021 · 2 mins read
UK Housing Credit Conditions Survey (Q1 2021) Robust house price growth and the prospect of a strong economic recovery have caused banks’ risk appetite to return. As a result, banks expect to increase the availability of high LTV loans and reduce... 15th April 2021 · 3 mins read
UK Housing IHS Markit/CIPS Construction PMI (Mar.) A broad-based strengthening in construction activity pushed up the construction PMI to a six-and-a-half-year high in March. Strong housing and logistics development will continue to support... 8th April 2021 · 2 mins read
UK Commercial Property Data Response Lending to commercial property (Feb.) The increase in February’s net lending total was the first rise since September last year. We think this can be explained by the extension of payment holidays rather than a rise in new loans. Looking... 29th March 2021 · 2 mins read
UK Housing IHS Markit/CIPS Construction PMI (Feb.) The rebound in the construction PMI in February suggests that the dip in activity in January was due to heavy rainfall rather than any deterioration in demand. While residential activity continues to... 4th March 2021 · 3 mins read
UK Commercial Property Data Response Lending to commercial property (Jan.) Net lending remained negative in January and we think this is explained by weak transactions and renewed UK lockdown. Looking ahead, any recovery in lending to commercial property is likely to be slow... 1st March 2021 · 2 mins read
UK Commercial Property Data Response IPF Consensus Forecasts (Feb.) Though February’s IPF Consensus Forecasts were upgraded for 2021, we remain somewhat more upbeat on UK commercial property performance. Further ahead, our gloomier view for the office sector means... 26th February 2021 · 3 mins read
UK Commercial Property Data Response RICS Construction Market Survey (Q4) The Q4 data showed a first rise in reported construction workloads since Q4 2019, albeit a modest one. With expectations more upbeat too, this could suggest activity has turned a corner. But tight... 4th February 2021 · 2 mins read
UK Commercial Property Data Response IHS Markit/CIPS Construction PMI (Jan.) The construction industry outperformed the rest of the economy in 2020 by being the first and only sector to see output recover to its pre-virus level. But the unexpected dip in the construction PMI... 4th February 2021 · 2 mins read
UK Commercial Property Data Response Lending to commercial property (Dec.) In line with our expectations, net lending was negative again in December and we expect it to remain so in the coming months. After all, we think a weaker near-term economic outlook will restrict the... 1st February 2021 · 2 mins read
UK Commercial Property Data Response RICS Commercial Property Market Survey (Q4) The RICS survey for Q4 showed that occupier demand and investment enquiries continued to fall. Though there was a slight improvement on Q3, this was largely due to the industrial sector. And... 28th January 2021 · 2 mins read
UK Commercial Property Data Response Credit Conditions Survey (Q4 2020) Very strong demand allowed banks to maintain tight lending standards in Q4 2020 while still increasing mortgage lending volumes. Of course, buyer demand is likely to drop sharply when the stamp duty... 21st January 2021 · 3 mins read
UK Commercial Property Data Response IHS Markit/CIPS Construction PMI (Dec.) The seventh consecutive construction PMI reading of over 50 in December mainly reflected a continued strong recovery in housing activity. The rebound in construction of commercial property has already... 7th January 2021 · 3 mins read
