UK Housing Market Update Why is the house price consensus still so bullish? The consensus among professional forecasters is that house price growth will slow but remain positive over the coming years, as a robust jobs market prevents forced sales. But even in the absence of... 26th May 2022 · 3 mins read
US Housing Market Update NYC apartment rental growth will cool rapidly Rental growth in NYC reached 22% y/y in Q1 2022, one of the fastest rates in the country. But we expect growth to cool rapidly from here and underperform other cities. The past surge in rents largely... 25th May 2022 · 3 mins read
US Housing Market Data Response New Home Sales (Apr.) New home sales dropped sharply to a two-year low in April. But while rising mortgage rates are weighing on sales, the drop looks large given the fall in mortgage applications seen so far and may be... 24th May 2022 · 2 mins read
US Commercial Property Chart Pack Metro upturn continues, but capital growth set to slow The metro level data confirmed another strong quarter for commercial real estate in Q1, though with the usual wide range of performance across sectors and cities. For offices, rents in the larger... 24th May 2022 · 6 mins read
Non-Euro Europe Commercial Property Chart Pack Scandinavia & Switzerland: Value gains set to slow The recovery continued in the Scandinavian and Swiss economies and their property markets in Q1. It was a record first quarter for investment in Scandinavia. And annual capital value growth was robust... 24th May 2022 · 5 mins read
Australia & New Zealand Economics Update Australia - Housing downturn could force earlier rate cuts House prices are starting to fall across Australia earlier than we had anticipated. While we still expect the RBA to hike rates until early-2023, the experience from previous housing downturns points... 24th May 2022 · 3 mins read
US Commercial Property Chart Pack Another punchy quarter, but capital growth set to slow Setting aside the drag from net exports on GDP growth, Q1 was another strong quarter for both the domestic economy and commercial real estate markets, highlighted by a record first quarter for... 20th May 2022 · 9 mins read
Canada Economics Weekly Core inflation still rising, as housing slumps The Bank of Canada will have eyed this week’s data releases and market moves with some trepidation. The further acceleration in core CPI inflation in April means the Bank is all but guaranteed to push... 20th May 2022 · 5 mins read
UK Commercial Property Outlook Interest rate rises hasten property slowdown The worsening monetary outlook is expected to weigh on property performance. With inflation set to peak at 10% y/y that will force interest rate to 3.0% next year. This will reverse the recent... 20th May 2022 · 26 mins read
China Economics Update A helping hand for the housing market Today’s reduction to the five-year Loan Prime Rate (LPR) should help drive a revival in housing sales, which have gone from bad to worse recently. But the lack of any reduction to the one-year LPR... 20th May 2022 · 3 mins read
US Housing Market Update Mortgage debt service ratio to remain low The surge in mortgage rates has led to a sharp deterioration in home affordability. But that doesn’t mean the mortgage debt service ratio, the share of disposable income spent on mortgage payments... 19th May 2022 · 3 mins read
US Housing Market Data Response Existing Home Sales (Apr.) Existing home sales fell once again in April, although for now they remain above their pre-COVID-19 level. But, with mortgage rates set to stay high and credit conditions unlikely to loosen... 19th May 2022 · 2 mins read
UK Housing Market Update Rental growth approaching a peak Record high rental growth at the start of the year is likely to mark a peak given signs that tenant demand is starting to ease. But strong wage growth and the rising cost of buying as mortgage rates... 19th May 2022 · 2 mins read
Non-Euro Europe Commercial Property Chart Pack Emerging Europe: Rental growth steps up CEE economies and property markets started the year on a solid footing. Strong quarterly increases in office and industrial rents supported CEE all-property values in Q1, though yield compression... 19th May 2022 · 5 mins read
US Housing Market Data Response Housing Starts (Apr.) Housing starts dropped by a marginal 0.2% m/m in April, driven by the single-family sector which also saw building permits fall for the second month in a row. Housing demand is faltering due to a... 18th May 2022 · 2 mins read
Europe Commercial Property Chart Pack Slower yield compression weighs on capital growth Euro-zone commercial property values made further gains in Q1. Quarterly rental growth was strongest for industrial, though office and retail rents also rose. However, the pace of yield compression... 18th May 2022 · 8 mins read
