Non-Euro Europe Commercial Property Chart Pack Scandinavia & Switzerland: Strong investor demand Data for Q2 confirm that, as with the economic recovery, the property upturn is more advanced in Scandinavia than in western Europe. Investment activity grew strongly, even when excluding a large one... 25th August 2021 · 6 mins read
UK Commercial Property Outlook Slow and uneven revival to continue The economic recovery has lost some momentum over the summer, but we expect that this will be a temporary setback and the backdrop will be strong into the medium term. There is growing evidence of a... 25th August 2021 · 26 mins read
US Housing Market Data Response New Home Sales (Jul.) After a run of declines, new home sales eked out a small gain in July. The recent weakness in sales data likely reflects homebuilders restricting sales as they try to catch-up with the surge in demand... 24th August 2021 · 2 mins read
Non-Euro Europe Commercial Property Chart Pack Emerging Europe: Retail rental falls still on the cards In line with the economic recovery, there were growing signs that property markets have turned a corner in Q2. All-property rents rose on the quarter, while the all-property yield dipped on the back... 24th August 2021 · 6 mins read
US Housing Market Data Response Existing Home Sales (Jul) Existing home sales surprised on the upside in July, rising for the second consecutive month. But with demand easing and inventory at record lows, we doubt this is the start of a resurgence. Instead... 23rd August 2021 · 2 mins read
US Commercial Property Valuation Monitor Property valuations stabilise in Q2 Following a sharp deterioration in the previous quarter, property valuations held steady in Q2. But while changes so far in Q3 point to only a slight worsening in valuations, we expect Treasury yields... 23rd August 2021 · 6 mins read
Canada Data Response Teranet House Prices (Jul.) The Teranet measure of house price inflation accelerated to a 32-year high in July and is on track to pick up further in August. That should mark the peak but, with the sales-to-new listing ratio... 19th August 2021 · 2 mins read
US Housing End of eviction ban won’t stop recovery in rents The eviction ban has been extended to early October, but we doubt it will be renewed again. Given the strength of the labour market, significant government support and robust rental demand, the... 19th August 2021 · 3 mins read
US Commercial Property Chart Pack Office metro-level divergence to persist After a period of strong economic growth in H1 2021, with high inflation squeezing incomes and the spread of the Delta variant, the outlook for H2 is less positive. That said, we don’t expect this to... 18th August 2021 · 12 mins read
US Housing Market Data Response Housing Starts (Jul.) Single-family starts edged back in July, although they but remain elevated compared to pre-COVID levels. Shortages in lots, labour and materials are weighing on builder confidence and housing starts... 18th August 2021 · 2 mins read
UK Commercial Property Update Are PDRs the answer to mis-matches in supply? New plans have extended Permitted Development Rights (PDRs) on commercial property, allowing swifter conversion to residential use. These have been cautiously welcomed, but, in our view, they do not... 18th August 2021 · 3 mins read
Europe Commercial Property Chart Pack Tentative signs of a turning point for property All-property capital values rose for the third consecutive quarter in Q2, leaving them less than 1% below their pre-virus level. The improvement was driven by a decline in all-property yields, though... 18th August 2021 · 9 mins read
UK Commercial Property Valuation Monitor Slight worsening in property valuations On our measure, property looked slightly worse value relative to bond and equities in Q2. The worsening was due to a marked fall in property yields, driven by the industrial sector. Outside of over... 16th August 2021 · 6 mins read
UK Housing Market Update What if we are wrong about interest rates? While the Monetary Policy Committee (MPC) became more hawkish at its August meeting, an increase in interest rates on the scale it expects would not undermine house prices. But more stubborn inflation... 16th August 2021 · 3 mins read
Europe Commercial Property Update Luxury won’t shield Paris retailers from e-commerce We expect prime retail rents in both Lyon and Paris to struggle to make up lost ground this year, and even after a return to growth next year, the pace of increases will be subdued. 16th August 2021 · 3 mins read
US Commercial Property Data Response Commercial Property Lending (Jul.) Outstanding real estate debt growth accelerated in July, supported by increases in residential, multifamily and non-farm commercial real estate debt. And with demand for loans growing on the back of... 13th August 2021 · 2 mins read
