UK Commercial Property Update Is the north-south divide closing for industrial? The latest data from the industrial sector were predictably upbeat with strong take-up and dwindling supply driving rapid rental growth. There were also signs of important shifts across UK markets... 25th March 2022 · 3 mins read
UK Housing Market Chart Pack Peak demand Most leading indicators of housing market activity and house prices remain strikingly buoyant, but the first signs that demand will soften are now appearing. There is no question that house prices... 24th March 2022 · 9 mins read
Non-Euro Europe Commercial Property Outlook Scandi & Swiss: Rising pressure on property yields Property demand in the Scandinavian and Swiss markets is expected to hold up this year, as they are more insulated from the negative impacts of the war in Ukraine on economic activity. However... 24th March 2022 · 18 mins read
US Housing Market Data Response New Home Sales (Feb.) New home sales fell for the second month in a row in February, as builders limited them to catch-up with the backlog of homes under construction. Higher mortgage rates will act to cool overall housing... 23rd March 2022 · 2 mins read
US Housing Market Update Will mortgage spreads keep rising? The jump in the spread between mortgage rates and the 10-year Treasury yield primarily reflects a rise in the credit risk premium as investors react to a slowing economy, surging inflation, and the... 23rd March 2022 · 3 mins read
UK Commercial Property Update Shopping centres not out of the woods yet Shopping centres were the hardest hit commercial property sector during the pandemic. The latest data hint that the sector may be past the worst. But the outlook remains clouded by the threat of... 23rd March 2022 · 3 mins read
Australia & New Zealand Economics Update New Zealand - Fixed mortgages won’t protect the housing market New Zealand’s high share of fixed mortgage rates won’t insulate the housing market from RBNZ rate hikes. Indeed, we’re sticking to our view that house prices will fall this year and cause the RBNZ to... 23rd March 2022 · 2 mins read
US Housing Market Data Response Existing Home Sales (Feb.) Existing home sales slipped in February, more than reversing January’s surprise increase. And the Fed’s first move on interest rates this week reinforces our expectation that existing sales will... 18th March 2022 · 2 mins read
US Commercial Property Data Response US Metro Employment (Jan.) The jobs recovery continued in January, but nearly two years on from the start of the pandemic, employment in most metros is still not back to its pre-crisis peak. And, in terms of office jobs, there... 18th March 2022 · 3 mins read
Canada Economics Weekly Another record rise in house prices The second consecutive record monthly gain in house prices in February, as well as the further rise in consumer price inflation to almost 6%, means the Bank of Canada will be eager to continue hiking... 18th March 2022 · 3 mins read
Europe Commercial Property Outlook War in Ukraine adds to uncertainty; retail most at risk While the direct impact of the war in Ukraine is likely to be small, we think there will be indirect consequences for euro-zone commercial property markets. Economic growth is expected to be slower... 18th March 2022 · 31 mins read
UK Commercial Property Chart Pack Property returns hit new decade high Commercial property is not showing any signs of slowing down. Rental growth rose further in February, while annual total returns climbed to a level last seen in Q4 2010. Industrial remains the main... 18th March 2022 · 7 mins read
US Housing Market Data Response Housing Starts (Feb.) Housing starts rose by 5.7% m/m in February following two months of declines. While a tight inventory of existing homes is supporting homebuilder confidence, shortages of labour and materials will... 17th March 2022 · 2 mins read
Canada Economics Update Can the housing market handle higher interest rates? The rise in mortgage rates implied by our new higher policy rate forecasts would reduce affordability by 12% over the next year which, in isolation, is not especially alarming when considering that... 17th March 2022 · 4 mins read
UK Housing Market Update Mortgage rates will continue to rise Mortgage rates have been slow to respond to rising market interest rates, with lenders choosing to take a hit to their margins rather than fully offset increased funding costs. But we don’t think... 17th March 2022 · 3 mins read
US Commercial Property Outlook Industrial returns to hit 20% in 2022 before plummeting We expect the robust investment activity seen last year, particularly in H2, to persist into 2022. Although this has competed yields to record lows in the industrial and apartment sectors, we still... 15th March 2022 · 22 mins read
