UK Housing Is build-to-rent investment about to take off? While investment in build-to-rent developments has been notably resilient over the past year, we continue to think that the growth of the sector will be slow for two reasons. First, high house prices... 7th April 2021 · 3 mins read
UK Commercial Property Update Retail parks best of a bad bunch (but not for long) Though retail warehouse rents saw their largest ever annual fall in 2020, this drop was not as deep as in other retail sub-sectors. Looking ahead, while a higher level of remote working than before... 1st April 2021 · 3 mins read
UK Commercial Property Update Rising vacancy brings downgrade London office view With office occupiers cutting space requirements, London office vacancy has climbed sharply. Our estimates suggest that vacancy is likely to rise even further over the next year or so and we have... 26th March 2021 · 3 mins read
Europe Commercial Property Are data centres a viable alternative? Thanks to changing consumption patterns and structural and cyclical knocks to the traditional property sectors, both occupier and investor demand for data centres set new records last year. But, while... 19th March 2021 · 3 mins read
UK Commercial Property Update Another tough year ahead for Central London retail Despite the lockdown, a recent pick-up in footfall suggests that people are returning to the capital, which, if it continues as non-essential stores re-open, would be welcome news for London’s hard... 10th March 2021 · 3 mins read
UK Commercial Property Update Limited impact of bond yield rises on UK property We think the recent jump in bond yields will not continue and, though we think that they are unlikely to drop back to their previous lows, supportive valuations against bonds will limit upward... 8th March 2021 · 3 mins read
Europe Commercial Property Update The long view of property In light of our latest long-term economic and financial market forecasts, we have revisited our views for commercial property performance over the next three decades. We think that average returns... 1st March 2021 · 3 mins read
UK Commercial Property Update COVID-19 legacy will be a weak property recovery The spread of performance between UK commercial property sectors hit an all-time high in 2020, with retail spiralling into a GFC-like slump, while industrial barely flinched. This gap will narrow, but... 11th February 2021 · 3 mins read
Europe Commercial Property Update The future for city property In our Future of Property research, we identified important post-pandemic shifts in most real estate sectors. How these trends interact will be key to the outlook for the urban locations where most... 4th February 2021 · 6 mins read
UK Commercial Property Update Have capital value falls bottomed out? The final few months of MSCI monthly data for 2020 suggest that the fall in capital values last year was not as bad as we anticipated. But we still think a prolonged period of tight restrictions and... 29th January 2021 · 3 mins read
Europe Commercial Property Update Investors in Europe moving down the risk curve Although rental growth prospects for prime property are weak compared to recent years, the outlook is better than for secondary property. As such, we think that investors will continue to focus on... 18th January 2021 · 3 mins read
UK Commercial Property Update Property returns to turn positive in 2021 After hitting a decade-low in 2020, we think that commercial property returns will turn positive in 2021, but any improvement is likely to be modest. This reflects the delayed recovery in the economy... 11th January 2021 · 3 mins read
UK Commercial Property Update Pandemic will not be the death of cities The pandemic – and the associated increase in working from home – may cause a fundamental shift in the way that cities function in future. But this shift will not necessarily trigger a more... 5th January 2021 · 8 mins read
UK Commercial Property Update Activity will be slow to recover even with a Brexit deal Despite all the current gloom about COVID-19, the outlook for next year has been brightened by the vaccination programme. While we don’t think this will be enough to prevent further falls in capital... 23rd December 2020 · 3 mins read
UK Commercial Property Update Central London office completions to peak in 2021 Office completions are set to rise again in Central London next year. We think this will mark the peak for this development cycle in London though, as an increase in remote working will dim the... 16th December 2020 · 3 mins read
UK Commercial Property Update No end in sight for outflows from open-ended funds With open-ended funds gated for much of the year, net outflows have not been as high as in recent years. But net outflows have picked up pace in recent months and we think this will continue as a... 11th December 2020 · 3 mins read