US Commercial Property Outlook US Commercial Property Outlook: Returns will be weighed down by “new normal” for bond yields Our new forecasts have been compiled in the most uncertain geoeconomic environment for a long time. But our firmly below-consensus expectations for US CRE are led by our view that nearly three years... 13th March 2025 · 20 mins read
UK Housing Market Update UK RICS Residential Market Survey (Feb. 2025) February’s RICS survey suggests the downside risks to our 2025 forecasts for housing demand and prices from the weak economy continue to grow. But bigger falls in mortgage rates than most expect over... 13th March 2025 · 3 mins read
Europe Commercial Property Update Fiscal spending shift worsens the German property outlook Events of the past week or so have worsened the outlook for German commercial property. While more government spending could marginally boost rents, the higher outlook for interest rates will outweigh... 12th March 2025 · 4 mins read
Canada Chart Pack Canada Chart Pack (Mar. 2025) Our Canada Chart Pack has been updated with the latest data and our analysis of recent developments. The imposition of US tariffs and risk of more to come will weigh on exports, consumer confidence... 11th March 2025 · 1 min read
UK Commercial Property Update Physical UK retail property now better able to compete with online The sharp drop in retail rents seen during the pandemic coincided with a surge in rents for distribution warehouses and, as a result, the difference between the two is at a record low. That will help... 10th March 2025 · 3 mins read
UK Commercial Property Update IPF UK Commercial Property Consensus Forecasts (Mar. 25.) The latest IPF Consensus Survey was broadly unchanged from the previous forecast round. Total returns at the all-property level are forecast to be 8.0% p.a. over 2025-29, with views ranging from a... 7th March 2025 · 3 mins read
UK Housing Market Rapid Response UK Halifax House Prices (Feb. 2025) The small 0.1% m/m fall in Halifax house prices in February is at odds with the 0.4% m/m rise in the Nationwide measure and suggests the recent rise in mortgage rates and/or the weakness in the wider... 7th March 2025 · 3 mins read
UK Commercial Property Rapid Response S&P Global/ CIPS UK Construction PMI (Feb. 25) The headline CIPS construction PMI dropped to 44.6 in February, from 48.1 in January, which was the lowest reading since May 2020. 6th March 2025 · 1 min read
China Economics Focus China's economic roadmap for 2025 The GDP target announced for 2025 suggests that policymakers are hoping to achieve steady growth this year, but we don’t think that the policy agenda set out today at the National People’s Congress... 5th March 2025 · 28 mins read
US Commercial Property Update The biggest cities will continue to underperform Five years ago, we were downbeat about the immediate prospects for the largest city real estate markets, the so-called gateways, and that view has proved correct. But we also argued that this malaise... 5th March 2025 · 5 mins read
US Housing Market Rapid Response US Mortgage Applications (Feb. 2025) The sharp fall in home purchase mortgage applications in February confirms that the rebound in mortgage rates late last year is suppressing home purchase demand. Recent declines in Treasury yields... 5th March 2025 · 2 mins read
UK Housing Market Update Are UK and US households still keen to pay more for living space? The ‘race for space’ following the pandemic and shift to remote work is evident in both the UK and US, with houses becoming more expensive relative to flats. And that premium for larger homes looks... 4th March 2025 · 5 mins read
US Commercial Property Update Austin knocks Nashville off top spot for US remote workers Our updated analysis of the most attractive apartment markets for remote workers sees Austin nudge Nashville into second place after two years at the top of the table, with San Antonio climbing to... 3rd March 2025 · 3 mins read
UK Commercial Property Rapid Response Lending to UK commercial property (Jan. 25) Net lending to property had a steady start to 2025, with the total of £917mn in January down from £1.28bn in December 2024, but close to the average seen over 2024. 3rd March 2025 · 1 min read
UK Economics Rapid Response UK Money & Lending (Jan. 2025) The stagnating economy is partly because households appear to be continuing to save rather than spend, which is unlikely to change over the next six months with the sharp deterioration in the outlook... 3rd March 2025 · 3 mins read
Australia & New Zealand Economics Update Australia’s house price slowdown has further to run The modest uptick in Australian house prices last month is unlikely to mark the beginning of a meaningful rally. With the Reserve Bank of Australia set to deliver a shallow easing cycle, housing... 3rd March 2025 · 3 mins read
