UK Commercial Property Update

Multifamily rents set to outperform

New more granular MSCI data shows that the outperformance of residential property over the past decade was primarily down to student housing. Indeed, only in the past couple of years have multifamily...

22nd April 2024 · 3 mins read

US Housing Market Chart Pack

US Housing Market Chart Pack (Mar. 2024)

Even if mortgage rates fall to 6.5% this year as we expect, homeowners will still be discouraged from listing their home, ensuring supply remains tight. At the same time, mortgaged buyer demand should...

18th April 2024 · 1 min read

US Housing Market Rapid Response

US Existing Home Sales (Mar. 2024)

The fall in existing home sales in March was triggered by mortgage rates climbing back above 7% the month before. Even so, transactions remain above the trough at the end of last year, consistent with...

18th April 2024 · 2 mins read

US Housing Market Rapid Response

US Housing Starts (Mar. 2024)

Housing starts weren’t able to build on the strong performance of the previous month in March, falling by the largest monthly amount since April 2020 in the early days of the pandemic. Although some...

16th April 2024 · 2 mins read

Europe Commercial Property Update

Expect subpar rental performance in Germany

While rental performance in German commercial property markets has been relatively solid given the country’s poor economic performance over the past five or so years, we think this is set to end.

16th April 2024 · 3 mins read

UK Commercial Property Update

Will the investment recovery be delayed?

After a positive end to 2023 commercial property investment has since lost momentum, not helped by a rebound in interest rates. But we still think interest rates will fall back this year and, while...

12th April 2024 · 3 mins read

Europe Commercial Property Update

Answering questions from our recent Drop-In

This week we held a Drop-In on the outlook for euro-zone commercial property. Clients can access a recording here. This Update provides answers to the most interesting questions that emerged from the...

11th April 2024 · 3 mins read

UK Housing Market Update

Credit Conditions Survey (Q1 2024)

Demand for mortgage credit jumped in Q1 in response to the drop in mortgage rates over the second half of 2023. But a rise in financial market interest rates this week, due to higher-than-expected...

1st February 2025 · 3 mins read

UK Commercial Property Focus

Residential will continue to outperform

Residential has taken an increasing share of the professional investment universe over the last decade or more and we will be adding the sector to our next set of UK commercial property forecasts. Our...

11th April 2024 · 18 mins read

UK Housing Market Update

UK RICS Residential Market Survey (Mar. 24)

Cautious optimism from surveyors on prices and activity The slight increase in the balances for past prices and new buyer enquiries in the RICS Residential Market Survey for March showed that demand...

11th April 2024 · 3 mins read

US Commercial Property Update

Consensus still moving in our direction

The latest consensus figures have moved closer to our own total returns forecasts for the next three years. But they continue to expect a lower path for Treasury yields implying a smaller cap rate...

9th April 2024 · 3 mins read

US Housing Market Update

Rising home listings won’t derail our price forecast

We think that reports of a wave of new resale supply coming onto the market are overblown. While the number of homes being listed for sale has increased compared to last year, it is still low by...

9th April 2024 · 3 mins read

US Commercial Property Office Metros Outlook

Value falls of 25% still to come in worst-hit markets

Our latest office metro forecasts highlight a continued divergence between southern metros and the western and major markets. That difference in performance will be driven by a smaller hit to demand...

8th April 2024 · 7 mins read

UK Housing Market Update

How much should we read into the collapse in starts?

The further slump in housing starts in Q4 was a surprise, but timelier data and leading indicators suggest activity has since begun to recover. We are therefore happy with our forecast of a gradual...

5th April 2024 · 2 mins read

UK Commercial Property Rapid Response

S&P Global/ CIPS UK Construction PMI (Mar. 24)

The headline CIPS construction PMI rose to 50.2 in February, the first time it has risen above the no change level since August last year. The rise was driven small improvements across the housing...

5th April 2024 · 1 min read