UK Commercial Property Data Response S&P Global/CIPS Construction PMI (Sep.) The surprise increase in the construction PMI reflected an improvement on the supply side, as easing demand cut delivery times and improved contractor availability. But a slowing economy and rising... 6th October 2022 · 2 mins read
US Commercial Property Update Charlotte office rental growth to outpace US average We think the Charlotte office market will continue to outperform the US average, as firms capitalise on the city’s affordability and position as a prominent financial district. As such, even though... 5th October 2022 · 3 mins read
US Housing Market Data Response Mortgage Applications (Sep.) The sixth consecutive month of falling home purchase activity in September was driven by a sharp rise in mortgage rates to 6.75% at the end of the month. With a significant easing in credit conditions... 5th October 2022 · 2 mins read
US Housing Market Update Market uncertainty pushes up mortgage rates An upward revision to our 10-year Treasury yield forecast and a widening in spreads have led us to upgrade our mortgage rate forecasts. We now expect the 30-year fixed rate will stay close to 6.5% for... 4th October 2022 · 3 mins read
Europe Commercial Property Update Weaker demand to limit Paris office rent growth Falls in Paris Centre West vacancy are expected to support a further pick-up in prime office rents in the second half of the year. But this will be short-lived, with the deteriorating outlook for... 4th October 2022 · 3 mins read
UK Commercial Property Update Property capital values set to fall by 15% Looser-than-expected fiscal policy following the mini-Budget means we now expect Bank Rate and gilt yields to be higher. All else equal, that would push the spread between the 10-year yield and all... 4th October 2022 · 3 mins read
UK Housing Market Data Response Mortgage Lending (Aug.) The surprise jump in mortgage approvals in August probably reflected a rush to lock in mortgage offers as interest rates surged. There is a possibility that could be repeated next month, but... 30th September 2022 · 3 mins read
UK Housing Market Data Response Nationwide House Prices (Sep.) The stall in house prices in September was little surprise given the growing downward pressure on demand from rising mortgage rates. We suspect that, despite the reduction in stamp duty announced last... 30th September 2022 · 2 mins read
Japan Rapid Response Japan Industrial Production & Retail Sales (Aug. 22) 30th September 2022 · 2 mins read
US Commercial Property Data Response US Metro Employment (Aug.) The greater number of metros seeing a decline in total jobs in August comes as little surprise given the slowdown in the national data this month. But for the major six metros and poorer performing... 28th September 2022 · 2 mins read
Global Markets Update Revising up our DM bond yield forecasts With developed market (DM) central banks clearly in hawkish moods, we have revised up our forecasts for the yields of most 10-year DM government bonds. We no longer expect these yields, in general, to... 28th September 2022 · 5 mins read
US Housing Market Data Response Case-Shiller/FHFA & New Home Sales (Jul./Aug.) The fall in prices reported by the FHFA in July supports our view of a sustained decline over the next 12 months. With mortgage rates rising to above 6% in September, we think it is only a matter of... 27th September 2022 · 2 mins read
US Commercial Property Outlook Dallas offices set to lead the pack for rents and returns The overriding story this quarter is that although weak demand and steady inventory growth in the next couple of years will push up vacancy in many metros, we still see asking rents growing solidly as... 23rd September 2022 · 14 mins read
Capital Daily The UK’s fiscal gamble will keep Gilt yields high We think 10-year gilt yields will remain high following Friday’s fiscal statement from the UK Government. 23rd September 2022 · 7 mins read
