UK Commercial Property Data Response IPF Consensus Forecasts (Q1 13) Respondents to the latest IPF Consensus forecasts envisage rental value growth resuming in 2014 and then accelerating in 2015. But the implication from the capital value forecasts is that yields have... 22nd February 2013 · 1 min read
Europe Commercial Property Chart Pack Occupier and investment markets diverge The pace of economic contraction in the euro-zone stepped up a notch in the final quarter of 2012. Yet sentiment towards the region has improved. As a result, although the underlying drivers of... 22nd February 2013 · 1 min read
UK Commercial Property Chart Pack Nascent signs of rental growth outside London All-property rental values were unchanged in January, leaving them 0.3% lower than a year earlier. But amidst the broad stagnation at the all-property level there were some bright spots. Notably, Rest... 21st February 2013 · 1 min read
Europe Commercial Property Update Should office and retail yields in Oslo be lower? The outperformance of the Norwegian economy is evident in above-average growth in office and retail rental values, but not in initial yields. However, rather than being a sign that property in Oslo is... 18th February 2013 · 1 min read
UK Commercial Property Focus When will the commercial property deleveraging end? Lenders have already made substantial progress in reducing the stock of commercial property loans on their books. But there is more to do and net lending flows are likely to remain negative for some... 15th February 2013 · 1 min read
Non-Euro Europe Commercial Property Outlook 2013: a softer year ahead for property Our forecasts envisage that European commercial property markets outside of the single currency region will benefit from the recent lull in the euro-crisis. Although the fundamental economic drivers... 14th February 2013 · 1 min read
Europe Commercial Property Outlook Weak occupier fundamentals to drag down property The current lull in the debt crisis has come too late to prevent a marked deterioration in economic and occupier market conditions in most euro-zone property markets. And the slowdown in economic... 14th February 2013 · 1 min read
UK Commercial Property Outlook 2013: the first step on the road to recovery? All-property yields moved up modestly in 2012, in line with our forecasts, but we think that this small adjustment is now all but over. Equally, however, renewed falls in yields and rises in capital... 12th February 2013 · 1 min read
Europe Commercial Property Update Four reasons not to get carried away by better real estate equity prices The recent strength of European real estate equity prices would be consistent, on past form, with increases in physical property capital values this year. But we think there are four reasons why it is... 8th February 2013 · 1 min read
UK Commercial Property Update What does the rise in bond yields mean for commercial property? The recent rises in UK bond yields have been far too small to make much of a dent in the already-high property/bond yield spread and, in any event, are likely to go into reverse. Indeed, we think that... 7th February 2013 · 1 min read
Europe Commercial Property Update Surveyors sound alarm bells for French and Dutch rents The generally weak picture of European commercial property occupier markets portrayed by the latest RICS global survey is broadly consistent with our own views on the near-term prospects for rental... 6th February 2013 · 1 min read
Europe Commercial Property Update How concerning for property is the Russian economic slowdown? The Russian economy cooled at the end of 2012, as we had expected, and growth is likely to remain lacklustre this year. However, although there are signs that the slowdown may be affecting the office... 1st February 2013 · 1 min read
Europe Commercial Property Update Could the spread between yields in Paris and Munich reverse sign? Recent data show that the French economy is lagging behind Germany. If we are right that this divergence will grow, the low levels of property yields in Paris relative to Munich look unsustainable... 30th January 2013 · 1 min read
UK Commercial Property Data Response Lending to commercial property (Dec. 12) Net commercial property lending was negative again in December and it seems likely that this pattern will continue for some time yet. However, it is encouraging that there remains little evidence of... 30th January 2013 · 1 min read
UK Commercial Property Data Response RICS Commercial Property Market Survey (Q4 12) Today’s RICS survey showed that occupier demand remains soft and that surveyors envisage unchanged rental values over the next three to six months. That looks plausible to us, although the risks are... 29th January 2013 · 1 min read
UK Commercial Property Chart Pack Office investment demand remains robust On Property Archive data, the value of investment market activity in December rose to £3.1bn, up by £0.2bn from November. Investment in offices accounted for nearly half of this total, and the office... 28th January 2013 · 1 min read
