Europe Commercial Property Update

CEE industrial rents to trail the rest of Europe

The CEE industrial market cooled in 2023 as economic activity stagnated. This year will herald an economic recovery but we don’t think it will be stop the rent growth slowdown. Demand is anticipated...

4th April 2024 · 3 mins read

China Chart Pack

China Chart Pack (Mar. 24)

China’s economy continued to recover in the first months of the new year. And we think fiscal support will keep supporting growth in the near-term. That said, the property sector remains a drag on the...

3rd April 2024 · 1 min read

US Housing Market Rapid Response

US Mortgage Applications (Mar. 2024)

Mortgage rates dipping back below 7% helped mortgage applications for home purchase edge slightly higher in March. But recent increases in the 10-year Treasury yield point to mortgage rates climbing...

3rd April 2024 · 2 mins read

UK Commercial Property Rapid Response

Lending to commercial property (Feb. 24)

2nd April 2024 · 1 min read

China Economic Outlook

Prop from stimulus to be short-lived

China’s economy has fared better recently and policy support is likely to remain a near-term prop to growth. But we remain less sanguine about the medium-term outlook.

27th March 2024 · 15 mins read

Europe Commercial Property Update

Paris prime office rent gains to slow

After a solid 2023, we expect Paris prime office rental growth to slow markedly over the next couple of years as demand softens, supply rises and affordability bites. That said, rental gains over 2024...

27th March 2024 · 3 mins read

UK Commercial Property Update

The economic outlook and industrial rents

The drivers of industrial rental growth were turned on their head during the pandemic, but we expect the pre-COVID-19 relationships will soon be reestablished. That points to consumer spending as an...

26th March 2024 · 3 mins read

UK Housing Market Chart Pack

UK Housing Market Chart Pack (Mar. 2024)

A pause in the fall in mortgage rates and a rise in the number of homes coming onto the market mean house price growth will stall in the near term. But our forecast that Bank Rate will be cut further...

26th March 2024 · 1 min read

US Housing Market Rapid Response

US Case-Shiller/FHFA House Prices (Jan. 2024)

The fairly large gain in house prices in January points to a rebound in price growth driven by the fall in mortgage rates towards the end of last year. Although its early in the year, today’s data fit...

26th March 2024 · 3 mins read

US Housing Market Update

Renting to remain substantially cheaper than buying

As mortgage rates fall, we think the difference between the cost of buying and renting will narrow from the current all-time highs. But even by 2026, renting will remain by far the more cost-effective...

25th March 2024 · 3 mins read

US Housing Market Rapid Response

US New Home Sales (Feb. 2024)

February’s tiny drop in new home sales cut short what appeared to be the beginning of a recovery in recent months. Even though the drop was extremely small, it still potentially casts some doubt over...

25th March 2024 · 2 mins read

US Commercial Property Outlook

A tough year in store, but retail returns will be positive

This year is being flagged by many as the year the recovery starts, but there is still a substantial amount of pain (and value falls) to come. We think activity will gradually pick up in H2, but...

22nd March 2024 · 22 mins read

Europe Commercial Property Outlook

Further value falls to come, but should reach trough in H2

Further near-term yield rises will push property values lower in the coming quarters, but better valuations, falling interest rates and improving economic activity suggest a trough should be reached...

21st March 2024 · 31 mins read

US Housing Market Rapid Response

US Existing Home Sales (Feb. 2024)

Existing home sales rose in February which we think largely reflects the sharp fall in mortgage rates at the end of last year. But borrowing costs have been rising so far in 2024, which in the near...

21st March 2024 · 2 mins read

UK Commercial Property Chart Pack

UK Commercial Property Chart Pack (Mar. 24)

All-property total returns have turned the corner, with a month-on-month rise in January and February. Rental growth is set to continue to ease, but yields are close to a peak and that will remove the...

19th March 2024 · 1 min read