UK Housing Market Update

RICS Residential Market Survey (Jun. 2024)

Revival unlikely to materialise as soon as surveyors hope While demand continued to slip back in June, surveyors were optimistic it would soon pick up. Given elevated mortgage rates we suspect the...

11th July 2024 · 3 mins read

UK Commercial Property Update

Do the latest job figures hint at weaker office rents?

UK employment has faltered of late and, though growth is expected to improve, no return to the buoyancy of the recent past is in prospect. While headcount has become a weaker indicator of office...

10th July 2024 · 3 mins read

US Commercial Property Update

Industrial supply risks look most pointed in Phoenix

The legacy of the post-pandemic industrial construction boom is now being felt in rising supply across most metros. With the demand outlook stabilising, we think the evolution of supply will shape...

9th July 2024 · 4 mins read

US Commercial Property Update

Near-term laggard but US to outperform longer term

The slower adjustment to past rises in interest rates and sharper hit to office demand mean US property is set to underperform European property over the next five years. But unlike equities, we think...

8th July 2024 · 3 mins read

Canada Economics Weekly

Weakness boosts odds of another rate cut

There was little to be encouraged by this week, with labour market conditions continuing to soften, the business surveys weak and the real estate board data pointing to a risk of renewed falls in...

5th July 2024 · 4 mins read

UK Housing Market Rapid Response

UK Halifax House Prices (Jun. 2024)

As the first economic data release under a Labour government since 2010, the decline in Halifax house prices in June meant that Labour’s tenure got off to a slightly downbeat start. However, while we...

5th July 2024 · 2 mins read

Canada Chart Pack

Canada Chart Pack (Jul. 2024)

We expect that a sustained period of below potential growth will help bring core inflation to the 2% target by the end of the year and persuade the Bank of Canada to cut interest rates further, with...

4th July 2024 · 1 min read

Europe Commercial Property Update

Latest trade data spell good news for Iberian ports

Timely estimates of trade through Europe’s busiest seaports so far this year have broadly mirrored relative economic performance across Europe, as volumes through Iberia’s ports have recovered while...

4th July 2024 · 3 mins read

UK Commercial Property Rapid Response

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

The headline CIPS construction PMI edged back in June from its two-year high last month, but at 52.2 remains in expansionary territory. Both the commercial and housing balances retreated, with the...

4th July 2024 · 1 min read

UK Housing Market Update

The shape of Labour's housing policy

The overarching theme of the Labour government’s housing policies will be a rebalancing of rights in favour of tenants and aspiring homeowners at the expense of landowners and landlords. That said...

3rd July 2024 · 3 mins read

Global Commercial Property Chart Pack

Global Commercial Property Chartpack

The slower adjustment to past rises in interest rates and a sharper hit to office demand is set to weigh on US property returns over the next couple of years. Overall, the UK is set to outperform over...

3rd July 2024 · 1 min read

Event

Global Real Estate Drop-in: Which region looks set to outperform?

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The outperformance of the US economy has supported stronger commercial real estate returns there over recent decades than either mainland Europe or the UK.

US Housing Market Rapid Response

US Mortgage Applications (June 2024)

The decline in mortgage rates back below 7% helped mortgage applications for home purchase to rise by 5.1% m/m in June. That gain was tiny in the context of the ongoing three-year slump in...

3rd July 2024 · 2 mins read

US Economics Update

Recovery in residential investment to lose steam

The rebound in residential investment over the past year will go into reverse in Q2, as housing starts and home sales slump again. We expect this weakness to persist thanks to a coming slump in new...

2nd July 2024 · 2 mins read

US Commercial Property Apartment Metros Outlook

Houston and Chicago top the apartment rankings

Across the 17 metros we cover, most will see higher vacancy over the next year or so due to a surge in completions. Atlanta and Houston will be the key exceptions. There new construction has plummeted...

2nd July 2024 · 6 mins read