UK Commercial Property Update How much of a risk does UK CRE debt pose? The UK commercial real estate (CRE) debt market seems to be in a better position than the US, where troubled regional banks were the main providers of finance. That said, credit conditions are also... 22nd March 2023 · 3 mins read
US Commercial Property Update Where does property fit into the banking turmoil? While real estate is not the main cause of the current financial turbulence, as it was in the late 2000s, it has played an indirect role and may be implicated in any further instability. And property... 21st March 2023 · 4 mins read
Global Economics Update What next after Credit Suisse? While the Credit Suisse rescue might draw a line under that particular institution’s problems, it is clear that confidence in the financial sector overall is still extremely fragile. So regardless of... 20th March 2023 · 5 mins read
Global Economics Update How could the situation escalate? We are resending this publication to include clients of our Property Services. We have already outlined some different scenarios of how things might evolve from here and it is still possible that the... 16th March 2023 · 4 mins read
UK Commercial Property Update Rental growth resilience won’t last Even as the economy has slowed nominal all-property rental growth has held up relatively well. But that largely reflects the impact of high inflation, which is now falling. In any event, underlying... 15th March 2023 · 3 mins read
UK Commercial Property Update Industrial pipeline not a major risk A record amount of industrial space is currently under construction, which looks poorly timed given the upcoming recession. However, the sector is entering the downturn in a strong position with very... 8th March 2023 · 4 mins read
Europe Commercial Property Update Property returns to revive over the longer term The current economic downturn will mean that short-to-medium term property performance is under-par. But over a longer horizon, we expect real estate returns to reassert their traditional position... 2nd March 2023 · 3 mins read
UK Commercial Property Update Is the worst behind us? This week’s data contained encouraging signs that inflationary pressures are fading, and the risks to our view that Bank Rate will rise to 4.5% this year now lie to the downside. The January MSCI data... 17th February 2023 · 3 mins read
UK Commercial Property Update Explaining the surge in yields The rise in yields in the final quarter of last year was larger than that seen at the start of the GFC. While the magnitude of the rise can be explained by the jump in risk-free interest rates, the... 3rd February 2023 · 3 mins read
UK Commercial Property Update REIT pricing points to further fall in capital values Movements in REIT pricing provide a good indication of where property capital values are heading. And the latest data are consistent with our expectation that all-property values will see a peak-to... 18th January 2023 · 3 mins read
UK Commercial Property Update UK commercial property faces a tough year After a stellar first six months, rising interest rates and a slowing economy brought commercial property returns crashing down in the second half of 2022. All-property total returns are therefore set... 10th January 2023 · 3 mins read
Climate Economics Update The key battlegrounds for cutting property emissions A large part of the real estate sector’s carbon footprint is related to electricity production and so will shrink over time as the use of renewables continues to expand. The biggest challenges to... 9th January 2023 · 6 mins read
US Commercial Property Update The World in 2023: Property prices to plunge Property markets rebounded strongly after 2020, in part boosted by favourable structural shifts brought on by the pandemic. But they have hit the buffers in recent months. And fortunes are likely to... 15th December 2022 · 4 mins read
UK Commercial Property Update Regional office market rents to outperform London Office rental growth in London and RoUK was similar in the third quarter. But as the recession takes hold London firms will have a greater incentive, and opportunity, to make savings from the shift to... 14th December 2022 · 3 mins read
UK Commercial Property Update Lending to property will soon go into reverse The rise in net lending to real estate over the past couple of months may reflect some investors looking to buy commercial property assets at discounted prices. But a repeat of the mid-2000s, when... 9th December 2022 · 3 mins read
UK Commercial Property Update Retail property no longer an outlier The cost-of-living crisis will have an impact on UK high streets for much of the next year. That will not be helpful for retail property rents, although given they are starting from a low base, we... 18th November 2022 · 3 mins read
