US Housing Market Update

Drop in mortgage rates won’t set the market alight

We are sceptical that the recent decline in mortgage rates will revive the housing market. Rates are still high compared to recent years, discouraging homeowners from moving, while most potential new...

12th August 2024 · 4 mins read

Europe Commercial Property Update

Office utilisation rising but space cutting to drag on

European office occupier surveys reveal that office attendance and utilisation has continued to rise over the past year and that it could still improve a bit further. However, despite the rise in...

12th August 2024 · 3 mins read

UK Economics Weekly

Strong rebound in housing activity an upside risk to GDP

Our forecast implies that the recovery in the housing market will both directly and indirectly add about 0.8% to the level of GDP by the end of 2026. But the risk is that the housing market rebound is...

9th August 2024 · 11 mins read

US Commercial Property Update

Diverse occupier base to support Southern office demand

After an already-tough H1 for information sector jobs, we expect the second half of the year to see further cuts, which will be bad news for tech-heavy metros in the West. But a more diverse occupier...

8th August 2024 · 4 mins read

UK Housing Market Update

RICS Residential Market Survey (Jul. 2024)

Increasing demand points to stronger price growth Tentative signs from July’s RICS survey add to the growing evidence that demand and prices are starting to pick up. And as lenders start to cut...

8th August 2024 · 3 mins read

Canada Chart Pack

Canada Chart Pack (Aug. 2024)

With the economy now in a position of excess supply, we expect core inflation to continue to fall back to 2% by the middle of next year. With the Bank of Canada putting more emphasis on the downside...

7th August 2024 · 1 min read

UK Commercial Property Valuation Monitor

UK Commercial Property Valuation Monitor (Q3 24)

A rise in alternative asset yields combined with stable property yields meant valuations failed to improve in Q2. But with risk-free rates now falling back and property yields set to be flat, property...

7th August 2024 · 0 mins read

US Housing Market Rapid Response

Mortgage Applications (Jul. 2024)

July was a disappointing month for mortgage activity overall, with earlier high borrowing costs causing home purchase applications to slide by 5.4% m/m. All the attention, however, will be on the last...

7th August 2024 · 2 mins read

Europe Commercial Property Update

Investment turns a corner, but recovery will be uneven

The Q2 rise in euro-zone investment marks the start of the recovery, but one that will be weak and uneven across markets. Economic and political concerns means investment in Germany and France is...

7th August 2024 · 4 mins read

UK Housing Market Rapid Response

UK Halifax House Prices (Jul. 2024)

After three months of stagnation, the bigger-than-expected rise in the Halifax house price index in July provides further evidence that house prices are bouncing back from the slight rise in mortgage...

7th August 2024 · 2 mins read

US Housing Market Chart Pack

US Housing Market Chart Pack (Jul. 2024)

A pullback in buyer demand paired with rising supply has cooled the market, causing house price inflation to ease. However, the recent sharp decline in mortgage rates will offset some of that softness...

6th August 2024 · 1 min read

US Commercial Property Update

Investment recovering, but not without risks

While the UK led the recovery in investment activity in Q4 last year, the latest data suggest the US and euro-zone are now also turning a corner. But given concerns over economic growth in all three...

6th August 2024 · 4 mins read

UK Commercial Property Rapid Response

S&P Global/CIPS Construction PMI (Jul 24)

6th August 2024 · 1 min read

UK Commercial Property Update

London industrial demand will soon recover

The impact of the cost-of-living crisis, which has been weighing on London industrial take-up, has a bit further to run. But London is well-positioned to benefit from the rise in consumer spending we...

5th August 2024 · 3 mins read

Japan Economics Focus

Rental growth will continue to lag income growth

While faster wage growth should eventually result in a significant pick-up in rental inflation, it seems likely that rental growth will trail income growth for the foreseeable future. That means that...

5th August 2024 · 9 mins read