US Housing Market Update New apartments will start to get larger soon Apartments kept getting smaller in the second quarter of this year, with the median floor space of units falling to under 1,000 sq. ft., the lowest since records began in 1999. That trend seems at... 14th September 2021 · 3 mins read
UK Housing Market Data Response Mortgage Lenders and Administrators Statistics (Q2 21) The further surge in mortgage lending to a fresh post-financial-crisis high and booming house prices begs the question whether there is over-exuberance in the housing market. But as the surge has been... 14th September 2021 · 3 mins read
US Commercial Property Data Response Commercial Property Lending (Aug.) All real estate sectors saw growth in outstanding debt for the second consecutive month in August. What’s more, the third consecutive monthly increase in commercial real estate debt of more than $10bn... 10th September 2021 · 2 mins read
US Commercial Property Outlook Retail on the cusp of a recovery This quarter there are short-term upgrades to all four major sector forecasts for 2021 on the back of strong investor demand for assets, which is driving up prices. Those upgrades mean that returns in... 10th September 2021 · 23 mins read
US Housing Market Chart Pack Soaring prices and lack of supply weigh on activity Mortgage rates have been stable at close to record lows since mid-July, but that hasn’t prevented a decline in housing demand. New home sales are down 28% from their peak last year and while existing... 9th September 2021 · 9 mins read
China Economics Update Evergrande circling the plughole Evergrande’s collapse would be the biggest test that China’s financial system has faced in years. Policymakers’ main priority would be the households that have handed over deposits for properties that... 9th September 2021 · 3 mins read
UK Housing Market Data Response RICS Residential Market Survey (Aug.) While demand continued to soften in August limited stock on the market points to house price inflation remaining high in the near term. And despite the end of the stamp duty holiday, surveyors expect... 9th September 2021 · 2 mins read
Europe Commercial Property Update What will happen to submarket rents after COVID-19? With more hybrid working post-pandemic, the view is that office rents will be under pressure for many years. This raises questions about which locations could be more resilient and if rents in central... 8th September 2021 · 3 mins read
UK Housing Market Data Response Halifax House Prices (Aug.) While annual house price inflation cooled from 7.6% to 7.1% in August according to Halifax, the solid gain in house prices on the month confirms that the housing market is weathering the winding down... 7th September 2021 · 2 mins read
Europe Commercial Property Update Zurich office returns rank poorly over next five years Weak near-term rental prospects and squeezed valuations mean that we expect Swiss office returns to perform poorly in the coming years, particularly in Zurich. 6th September 2021 · 3 mins read
UK Commercial Property Data Response IPF Consensus Forecasts (Aug.) The upgrades to the IPF Consensus views for this year still leaves them below our forecast. However, our more downbeat view on the outlook for offices because of the shift to more remote working means... 3rd September 2021 · 3 mins read
Europe Commercial Property Valuation Monitor Rising bond yields point to deteriorating valuations The valuation of industrial and offices deteriorated compared to bonds and equities in Q2 on account of falls in property yields. Meanwhile, retail yields stabilised, leaving valuations broadly... 2nd September 2021 · 7 mins read
UK Housing Market Update End of policy support doesn’t pose much risk While the furlough scheme was critical in preventing the COVID-19 recession from dragging down house prices, we don’t think that the withdrawal of the scheme poses much of a risk. Meanwhile, the... 2nd September 2021 · 3 mins read
US Commercial Property Data Response US Metro Employment (Jul.) Job growth showed no sign of slowing in July, with gains in the leisure & hospitality sector continuing to drive the recovery. This benefitted Boston, Washington D.C. and New York City significantly... 1st September 2021 · 2 mins read
US Housing Market Data Response Mortgage Applications (Aug.) With the share of households seeing now as a good time to buy at a record low, home purchase mortgage applications fell for the fifth consecutive month in August, leaving them down 25% from January’s... 1st September 2021 · 2 mins read
Nordic & Swiss Economics Focus Riksbank to take a chance on “QT” next year Housing market valuations in Sweden are even more stretched than on past occasions when the Riksbank has “leant against the wind” – that is, set policy tighter than needed to contain consumer price... 1st September 2021 · 17 mins read
