UK Commercial Property Outlook The recovery is poised to move down a gear Since the previous Analyst, we have slightly increased our projection for 2014 all-property capital value growth from 12% to 14%. But as yields find a floor next year, the forecast that capital values... 10th November 2014 · 1 min read
Europe Commercial Property Update German office occupier market stronger than take-up data suggest There are a number of reasons to think that the German office occupier market is stronger than third quarter take-up data suggest. And, with vacancy rates low and the majority of upcoming developments... 7th November 2014 · 1 min read
UK Commercial Property Data Response RICS Commercial Property Market Survey (Q3) Today’s RICS survey contained a raft of positive occupier market indicators, which send a clear message that rental value growth will continue to accelerate. 6th November 2014 · 1 min read
UK Commercial Property Data Response CIPS/Markit Construction PMI (Oct.) After a multi-year high in September, the CIPS/Markit commercial property construction PMI eased down again in October. But it remained at a high level and indicates strong confidence in the prospects... 4th November 2014 · 1 min read
Global Markets Outlook Bubble in US Treasuries should deflate soon If recent history is any guide, Fed tightening is unlikely to derail stock markets to the extent that many fear. Our view is that while US equities will struggle to make further headway, they will... 31st October 2014 · 1 min read
UK Commercial Property Update What do recent data tell us about short-term prospects? A range of recent data supports our forecast that commercial property capital values will continue to rise next year. Indeed, even if modestly higher interest rates in 2015 do start to push up... 30th October 2014 · 1 min read
Europe Commercial Property Update Falling vacancy points to Brussels industrial rental growth Despite only tepid economic growth in Belgium, strengthening occupier demand has caused industrial vacancy rates to fall. With vacancy at frictional levels, prime rental value growth will soon widen... 29th October 2014 · 1 min read
UK Commercial Property Data Response Lending to commercial property (Sep./Q3) Net commercial property lending was negative again in September. We think positive figures are now in sight, but also that lending activity is unlikely to boom. 29th October 2014 · 1 min read
UK Commercial Property Chart Pack Retail rental values finally show signs of life All-property rental values grew by 0.4%m/m in September, the second-biggest monthly increase since mid-2007. Industrial and office sector rental values continued their recovery, but perhaps the most... 24th October 2014 · 1 min read
UK Commercial Property Data Response RICS Construction Survey (Q3) Strong readings from today’s RICS construction survey confirm that commercial property developers’ confidence about the prospects for occupier demand is high. We agree that the outlook for the... 23rd October 2014 · 1 min read
Europe Commercial Property Update How vulnerable is non-core logistics property to risk aversion? Compared to previous bouts of risk aversion, the peripheral euro-zone and emerging European economic outlook is better. And, with investors now seeing the sector as a core portfolio component, the... 22nd October 2014 · 1 min read
UK Commercial Property Update Are Rest of UK office rents poised to accelerate? History shows that upswings in London and South East office rents tend to filter out pretty quickly to the rest of the country. And with the economic recovery entrenched and regional office-based jobs... 16th October 2014 · 1 min read
Europe Commercial Property Update What impact will lower oil prices have on Norway’s property markets? With oil prices having fallen and costs continuing to rise, firms in the sector have cut back their investment plans. Whilst this will reduce economic growth more broadly, we expect the greatest... 15th October 2014 · 1 min read
Europe Commercial Property Update Peripheral industrial property values look set to outperform In contrast to most core euro-zone markets, industrial yields across the periphery have yet to narrow to the same extent as office and retail yields. Hence, while the recent weak euro-zone production... 14th October 2014 · 1 min read
UK Commercial Property Focus Are supermarket property returns past their best? Over the past 30-35 years, supermarket property total returns have averaged more than 11% p.a., better than any of the other main segments. However, this long period of outperformance has now left... 14th October 2014 · 1 min read
Europe Commercial Property Update Where next for prime office yields in Switzerland? Despite a weak outlook for the occupier markets, we expect Swiss prime office yields to mark time at their current levels for at least another 12 to 18 months as bond yields stay close to historic... 9th October 2014 · 1 min read
