Australia & New Zealand Chart Pack Central Bankers’ confidence dilemma Inflation is surging in both Australia and New Zealand. That is putting pressure on central banks to hike interest rates to slow the economy and curb inflation. But both the RBNZ and the RBA... 21st April 2022 · 11 mins read
US Housing Market Data Response Existing Home Sales (Mar.) Surging mortgage interest rates pushed March existing home sales down to their lowest since the height of COVID-19-restirctions in mid-2020. We expect mortgage rates to rise further over the next year... 20th April 2022 · 2 mins read
Australia & New Zealand Economics Update Australia - Government support won’t prevent housing downturn The expansion of the government’s “Home Guarantee Scheme” will only result in a modest boost to housing demand. And with affordability set to worsen sharply as the RBA hikes interest rates, it won’t... 20th April 2022 · 3 mins read
US Housing Market Data Response Housing Starts (Mar.) Housing starts rose a by a marginal 0.3% m/m in March, driven by the volatile multifamily sector. Single-family starts saw a small fall, as did building permits. While we expect new home demand to be... 19th April 2022 · 2 mins read
UK Housing Market Update Builders cautious despite strong demand Despite facing very strong demand housebuilders appear reluctant to commit to new sites. This is because a shortage of materials is delaying completions, while rising interest rates and the end of the... 19th April 2022 · 2 mins read
China Data Response China GDP (Q1), Activity & Spending (Mar.) Official GDP growth beat expectations last quarter but it still slowed in q/q terms. In practice, the figures probably understate the slowdown. And growth looks set to be even weaker in Q2 given the... 18th April 2022 · 3 mins read
UK Commercial Property Data Response Credit Conditions Survey (Q1 2022) Banks expect mortgage availability to fall back in Q2 as lenders push up borrowing rates to reflect increases in Bank Rate, but other lending criteria are expected to be stable or loosen. 14th April 2022 · 2 mins read
Europe Commercial Property Update Bright outlook for Belgium industrial rents While economic growth is forecast to slow, limited supply and further strong growth in e-commerce-related demand mean Belgium industrial rental growth is expected to outperform its pre-pandemic... 14th April 2022 · 3 mins read
UK Housing Market Data Response RICS Residential Market Survey (Mar.) The latest RICS survey brought early signs that, having been a sellers’ market for the past two years, the balance is shifting. That suggests we are right to expect a moderation in house price growth... 14th April 2022 · 2 mins read
US Commercial Property Update Winning and losing office metros from hybrid work Structural changes to working patterns and the resultant shifts in office demand will vary by industry and job type. Occupations like life and physical sciences are likely to see a low adoption of... 13th April 2022 · 4 mins read
US Housing Market Update Desperate buyers give home sales and prices a boost The surge in mortgage rates means home buyers with a mortgage preapproval from late January will see a rise in mortgage payments of 15% if they can’t find a home before their approval expires at the... 13th April 2022 · 3 mins read
Europe Commercial Property Update Rising costs an upside risk to German industrial rents While prime industrial rental growth in the German markets is expected to slow in the next couple of years, it will remain above its past averages. But the risks are to the upside given the rise in... 11th April 2022 · 3 mins read
US Housing Market Chart Pack Mortgage rates set to rise to over 5% Mortgage rates are set to rise to over 5% within the next couple of weeks which will help cool, but not crash, housing market activity. Pent-up demand from the last couple of years as buyers have... 8th April 2022 · 9 mins read
Europe Commercial Property Update Short-term boost to Spanish office rents We think that a rebound in employment will help prime office rental growth in Barcelona and Madrid to outperform the euro-zone this year. But this is likely to be short-lived, as the shift to remote... 8th April 2022 · 3 mins read
China Economics Weekly Housing market revival delayed by outbreak Prior to the latest COVID-19 outbreak, China’s housing market had appeared on the cusp of a rebound. But movement restrictions and weaker consumer confidence have since caused home sales to slump... 8th April 2022 · 7 mins read
UK Commercial Property Update How worried should property be about higher rates? Rising interest rates have put the outlook for property prices back under the spotlight. But, with lending practices much more restrained in this cycle and the market level loan-to-value ratio well... 7th April 2022 · 3 mins read
