China Economics Weekly Property rescue efforts intensify Policymakers want banks to lend more to developers, especially private ones. They will be reluctant to do so but are likely to comply to some degree – previous rounds of credit support for developers... 24th November 2023 · 6 mins read
Europe Commercial Property Valuation Monitor Europe Commercial Property Valuation Monitor (Q4 2023) Property yields rose across all sectors in Q3 and a surge in office yields drove the sharpest rise in all-property yields so far this year. However, this was matched by the spike in bond yields in... 23rd November 2023 · 0 mins read
US Housing Market Outlook Falling mortgage rates won't spark major recovery Housing market activity is likely to recover from here, driven by falling mortgage rates. That said, they are set to remain high relative to recent history. Our view is that mortgage rates won’t drop... 21st November 2023 · 15 mins read
UK Housing Market Outlook Prices to bottom out, but activity will remain soft Surprisingly resilient demand, high inflation, and limited supply mean a severe drop in house prices will be avoided. With the peak in mortgage rates now behind us and the labour market in good shape... 21st November 2023 · 17 mins read
US Housing Market Rapid Response Existing Home Sales (Oct. 2023) Existing home sales fell sharply to a fresh 13-year low in October as the 8% peak in mortgage rates in the same month caused buyers and sellers to withdraw from the market. Mortgage applications for... 21st November 2023 · 2 mins read
US Commercial Property Update Where are prospects best for data centers? Since early 2020 there has been a clear divergence in performance between data centers and the traditional commercial real estate sectors. Looking forward, we expect the hyperscale sub-sector will... 20th November 2023 · 3 mins read
Europe Commercial Property Update Milan office yield looks unsustainable Milan prime office yields appear very low both compared to other alternative assets and other euro-zone countries. By any standards, office property there looks highly overvalued. But looking ahead... 20th November 2023 · 4 mins read
US Housing Market Rapid Response Housing Starts (Oct. 2023) With homebuilders encouraged by the recent surge in buyers entering the new homes market due to a lack of existing inventory, housing starts and permits edged slightly higher in October. 17th November 2023 · 2 mins read
China Economics Weekly State taking a bigger role in homebuilding Local governments are stepping up the construction of public housing, providing a partial offset to the downturn in developer homebuilding. One consequence is that the privatization of China’s housing... 17th November 2023 · 5 mins read
Europe Commercial Property Chart Pack Europe Commercial Property Chart Pack (Q4 2023) Our Europe Commercial Property Chart Pack has been updated with the latest data and our analysis. The slowdown in rent growth so far this year is likely to persist given the weak economic backdrop... 16th November 2023 · 0 mins read
UK Commercial Property Focus Investment well placed to recover in 2024 Surging interest rates have not been kind to commercial property investment activity, which recently slumped to a 10-year low. But there are some reasons to think transactions will see a decent, if... 16th November 2023 · 14 mins read
Europe Commercial Property Update CE now further below consensus November’s IPF Consensus Survey showed that, although euro-zone office rental growth is expected to slow next year, forecasts remained unchanged on average from the May survey. In contrast, given the... 15th November 2023 · 3 mins read
US Commercial Property Update Another downgrade to the consensus, but still too sanguine Our forecasts for commercial real estate values remain well below consensus, even after the latest downgrade. While our sector rankings are consistent with the consensus, we are predicting a more... 15th November 2023 · 2 mins read
US Commercial Property Rapid Response Commercial Property Lending (Oct) The second consecutive monthly decline in outstanding commercial real estate loan balances held by US banks in October means the data are starting to reflect the pullback in real estate lending that... 13th November 2023 · 2 mins read
US Commercial Property Update 2024-27 completions to be below pre-pandemic levels With vacancy set to stay elevated, development finance remaining expensive, and values to continue falling next year, we expect construction starts will be weak in all sectors over the next 12 months... 10th November 2023 · 3 mins read
US Commercial Property Update WeWork collapse adds to office concerns The bankruptcy of WeWork in the US was a predictable end to a long-running saga. Its effects on office markets will not be systemic, but they will reinforce existing weaknesses and pile more bad news... 9th November 2023 · 3 mins read
