Europe Commercial Property Update Warsaw retail rents to recover but not surge After a fall this year, we expect Warsaw retail rents to return to growth in 2022. That said, the city’s reliance on office workers means that the shift to remote working will weigh on retail spending... 21st October 2021 · 3 mins read
UK Housing Market Update Materials shortages restrain construction Shortages of construction materials are unlikely to ease for at least another 6-12 months, restraining activity in the renovation sector and among smaller housebuilders That is likely to cap housing... 21st October 2021 · 3 mins read
Europe Commercial Property Update Near-term upgrades to German office rental growth Prime office rental growth in Germany is on track to be stronger than forecast in the near term. However, we think rental growth will slow in the coming years as the supply of modern space is expected... 20th October 2021 · 3 mins read
US Housing Market Data Response Housing Starts (Sep.) Single-family starts and building permits have been stable over the past three months at around 1.1m annualised, as strong new home demand has run up against shortages of materials and labour. We... 19th October 2021 · 2 mins read
US Commercial Property Update Downtown offices not losing out everywhere National office data suggest that suburban office markets have significantly outperformed downtown offices since the onset of the pandemic. But metro-level data point to a more nuanced picture in... 18th October 2021 · 3 mins read
UK Housing Market Chart Pack Residential demand returns to London While the UK has seen house prices boom over the past year, central London has not joined in as increased remote working led buyers to shun the capital for more space in the suburbs and further afield... 18th October 2021 · 6 mins read
China Data Response China GDP (Q3), Activity & Spending (Sep.) In q/q terms, official GDP growth slowed to a crawl last quarter. And our China Activity Proxy points to a sharp contraction. Although some of the recent weakness in services is now reversing... 18th October 2021 · 3 mins read
US Commercial Property Data Response Commercial Property Lending (Sep.) Outstanding real estate debt increased for the fourth consecutive month in September, thanks to net lending turning a corner in the residential sector and accelerating in the commercial sector. 15th October 2021 · 2 mins read
US Housing Market Chart Pack Rising mortgage rates will help cool booming prices Mortgage rates are on the rise and we expect they will see further gains to end the year at around 3.5%. That, alongside relatively tight credit conditions, will help cool rampant house price... 15th October 2021 · 9 mins read
UK Commercial Property Update Will COVID-19 shift real estate out of town? With workers spending more time away from city centres, some expected that out-of-town offices could swing back into fashion. It is still early, but from the UK data, the evidence suggests that it is... 15th October 2021 · 3 mins read
Europe Commercial Property Update Why are prime industrial rental values not taking off? Despite strong demand, we think that high capital values have kept development profitable and have prevented an acceleration in euro-zone prime industrial rental value growth. However, as capital... 15th October 2021 · 3 mins read
China Economics Weekly Property downturn deepens, triggering easing Supply-side disruptions mean there is an unusual amount of uncertainty about China’s recent economic performance. But one thing that’s clear is that the property sector downturn has gathered pace in... 15th October 2021 · 7 mins read
UK Commercial Property Data Response Credit Conditions Survey (Q3 2021) An ongoing improvement in credit availability may offset the increase in Bank Rate we expect in 2022. That offers support to our forecast that mortgage rates will remain low. 14th October 2021 · 3 mins read
Europe Commercial Property Update Wider market confirms recovery in prime data The latest MSCI data show that the wider market has moved roughly in line with our prime data since the onset of the pandemic and provide support to our outlook for property values. 14th October 2021 · 3 mins read
UK Housing Market Data Response RICS Residential Market Survey (Sep.) The RICS survey suggests that the housing market has shrugged off the deterioration in sentiment about the broader economy so far. Demand stabilised at a high level in September while stock remained... 14th October 2021 · 2 mins read
US Commercial Property Update Four likely winners in retail The retail sector appears to be turning a corner, and we think that convenience-oriented Neighbourhood and Community (N&C) centres, out-of-town retail, “destination”-type malls and retail located in... 8th October 2021 · 3 mins read
