UK Commercial Property Update Is the rise of flexible offices distorting vacancy rates? The surge in flexible office take-up over the past five years has raised the question as to whether office vacancy rates could be distorted as flexible offices tend to not be fully occupied. However... 13th June 2018 · 1 min read
UK Commercial Property Update What are the prospects for the leisure sector? In contrast to the problems on the high street, leisure sector fundamentals look strong. The outlook for leisure rental value growth is positive, supported by rising real incomes and solid underlying... 6th June 2018 · 1 min read
UK Commercial Property Update A boom but no bust? Current forecasts for commercial property prices to plateau rather than peak would represent a significant break from the boom/bust cycles of the past. Yet while some parts of the market look... 1st June 2018 · 1 min read
UK Commercial Property Update What does today’s MPC decision mean for property? We do not think recent softer economic data or the MPC’s decision to hold fire today have set the tone for 2018. Our above-consensus growth forecast is consistent with the MPC continuing to increase... 10th May 2018 · 1 min read
UK Commercial Property Update Will Rest of South East offices continue to outperform? Compared to other office markets, the Rest of the South East has been performing well. However, we do not expect this outperformance to last. A fresh surge in occupier demand seems unlikely and, as... 3rd May 2018 · 1 min read
UK Commercial Property Update Have regional office yields found a floor? According to MSCI, office yields in the Rest of UK office markets have fallen far more sharply over the past year than in the Rest of South East. That has returned the yield spread between the two... 5th April 2018 · 1 min read
UK Commercial Property Update Will commercial property lending pick up in 2018? A recent survey found that 72% of lenders intended to increase origination volumes for UK commercial property this year. That offers a sharp contrast to recent market conditions. Nevertheless, we... 23rd March 2018 · 1 min read
UK Commercial Property Update How strong is alternative property investment? Expressed as a share of total commercial property investment, deals involving alternative assets accounted for almost £1 in every £6 invested last year, a record high. Yet leaving student housing or... 15th March 2018 · 1 min read
UK Commercial Property Update No sign of a revival in development activity Development activity is now much more muted than in the run up to the EU referendum suggesting that, while rents and capital values have recovered from the result, developers are still choosing to err... 8th March 2018 · 1 min read
UK Commercial Property Update Retailer closures highlight sector's woes Bad news for the retail sector made almost as many headlines as the snow last week. The easiest conclusion would be to blame online competition. However, there are reasons to think that firm-level... 6th March 2018 · 1 min read
UK Commercial Property Update Are Rest of UK office rents pulling their weight? The subdued performance of office rents in Scotland, the West Midlands, and the North East is weighing on the Rest of UK aggregate. Yet, these regions aside, there is clear evidence that the recovery... 16th February 2018 · 1 min read
UK Commercial Property Update Are we underestimating rental growth in 2018? Our forecasts for all-property rental growth in 2018 sit towards the top the current consensus. Given our above-consensus economic growth forecasts, we see little scope for much weaker rental growth... 18th January 2018 · 1 min read
UK Commercial Property Update London construction comes off the boil Consistent with slower pace of rental growth and the rise in vacancy rates seen over the last year, the latest Deloitte’s Crane Survey showed a 9% fall in office construction activity in central... 30th November 2017 · 1 min read
UK Commercial Property Update What do we make of the AMV metric? By adding a guide to the probability, and scale of the downside risks to capital values, the PIA’s new Adjusted Market Value measure is a positive contribution to the debate about property pricing... 17th November 2017 · 1 min read
UK Commercial Property Update Is London facing a Brexodus? Reports that the Bank of England is assuming 75,000 office-based would shift away from London following Brexit paints a gloomy picture for office markets. However, not only is London less dependent on... 31st October 2017 · 1 min read
UK Commercial Property Update Investor surveys paint mixed picture for property The latest poll from Thomson Reuters suggests that investor demand for UK property could be on the brink of a drop. Yet, a more comprehensive survey by Hodes Weill/Cornell University suggests that the... 17th October 2017 · 1 min read
