UK Housing Market Outlook Higher interest rates to dab on the brakes We think it will take longer than most others expect for rising interest rates to bring down the curtain on the COVID-19 house price boom. A large stock of household savings, the ongoing adjustment to... 8th November 2021 · 22 mins read
Europe Commercial Property Update German retail vacancy to remain elevated The latest data show that conditions in the German retail sector are improving. Nevertheless, we think vacancy will be slow to reverse as pandemic shifts lead to weakness in in-store demand... 8th November 2021 · 3 mins read
UK Housing Market Update Dovish surprise reduces housing market risks The indication from the Bank of England that Bank Rate of 1.25% would be too high for the economy suggests that the forthcoming rise in interest rates won’t be anywhere near large enough to topple the... 5th November 2021 · 3 mins read
US Commercial Property Update REITs hint at upside risk for industrial and apartments REIT pricing appears consistent with our view that retail values are nearing a turning point while office values have a bit further to fall. But a strong recovery in industrial and apartment REITs... 4th November 2021 · 3 mins read
US Housing Market Update Booming home sales fail to raise homeownership rate Despite the exodus from cities and booming home sales last year, the homeownership rate in the third quarter was virtually unchanged from its level prior to the arrival of COVID-19. And with soaring... 4th November 2021 · 3 mins read
UK Commercial Property Data Response RICS Construction Market Survey (Q3) The latest RICS survey indicated that construction activity remained robust in Q3, while the outlook for the near term is favourable. Although we agree, we expect that building material and labour... 4th November 2021 · 2 mins read
Europe Commercial Property Update Cautiously optimistic on Moscow office rents While the latest virus outbreak has clouded the near-term outlook, a tight supply picture and steady employment growth mean that prime Moscow office rents should return to growth in 2022. 4th November 2021 · 3 mins read
UK Commercial Property Data Response IHS Markit/CIPS Construction PMI (Oct.) Construction firms reported that activity strengthened in October despite higher costs and continued difficulty sourcing materials. The big picture is that until those constraints ease construction... 4th November 2021 · 2 mins read
US Commercial Property Data Response US Metro Employment (Sep.) While the 3m/3m growth rate was positive in all metros in September, employment fell in Baltimore, Detroit, Los Angeles and Pittsburgh on the month. That left employment in just Austin, Phoenix and... 3rd November 2021 · 2 mins read
US Housing Market Data Response Mortgage Applications (Oct.) Mortgage rates rose to an eight-month high in October, which drove a significant decline in refinancing activity. But home purchase demand saw a much smaller dip, and we expect it will trend down only... 3rd November 2021 · 2 mins read
UK Housing Market Data Response Nationwide House Prices (Oct.) Yet another upside surprise in house prices last month confirmed that the end of the stamp duty holiday in September did little to cool the market. We expect house prices to continue to beat... 3rd November 2021 · 2 mins read
US Commercial Property Update Making sense of the latest strong data on US real estate Recent data releases and surveys show a booming commercial real estate market, particularly in the industrial and apartment sectors. While the level of prices is raising some eyebrows, we don’t see... 2nd November 2021 · 3 mins read
UK Housing Market Focus How pandemic changes will affect European cities Europeans are returning to cities, though the return to offices has been much slower and this has had negative effects on city retail. Looking ahead, weaker demand for office and retail will weigh on... 2nd November 2021 · 14 mins read
Australia & New Zealand Data Response Australia CoreLogic House Prices (Oct.) Strong demand means that house prices will keep rising at a strong pace over the next few months, but we think that lending restrictions will result in a slowdown next year. 1st November 2021 · 2 mins read
UK Commercial Property Data Response Lending to commercial property (Sep.) Net lending to UK commercial property was negative for the fourth month in a row in September, probably due to a rise in repayments. We expect further repayments, caution when seeking development... 29th October 2021 · 2 mins read
UK Housing Market Data Response Mortgage Lending (Sep.) Unsurprisingly, mortgage lending spiked in September as buyers rushed to complete before the stamp duty taper period ended. More notable is the resilience of mortgage approvals, suggesting that the... 29th October 2021 · 2 mins read
