UK Commercial Property Update Will shopping centre rental values continue to underperform? The recent underperformance by shopping centre rental values is unlikely to persist throughout 2012. But this does not mean that we envisage a recovery. Instead, we think that where shopping centres... 2nd December 2011 · 1 min read
Europe Commercial Property Update Clouds form over the Swedish retail market Q3’s plunge in Swedish consumer spending suggests that the outlook for the retail property market has deteriorated. Nevertheless, the low retail vacancy rate in Stockholm, together with strong demand... 1st December 2011 · 1 min read
Non-Euro Europe Commercial Property Chart Pack European property market is running out of bright spots Led by Poland and Russia, commercial property markets in CEE have been a relatively bright spot for investment in Europe. Yet, even here, growth in quarterly investment volumes has begun to slow. And... 29th November 2011 · 1 min read
UK Commercial Property Data Response Lending to commercial property (Oct.) Net lending flows to commercial property in October, of minus £1.3bn, were the worst since September last year. Given lenders’ focus on reducing property exposure, net lending flows are set to remain... 29th November 2011 · 1 min read
UK Commercial Property Data Response IPF Consensus Forecasts (Q4) Respondents to the IPF Consensus Forecasts no longer expect all-property capital values to hold up next year and have pencilled in renewed falls of about 2%, driven solely by higher yields. Reflecting... 25th November 2011 · 1 min read
Europe Commercial Property Update Amsterdam retail rental outperformance won’t last Retail rental value growth in Amsterdam over the past year has been strong relative to other euro-zone markets and also relative to the office sector. In our view, there is little justification for... 24th November 2011 · 1 min read
UK Commercial Property Chart Pack Transactions activity improves in October, but it may be a peak Property Archive figures showed that, driven by a rise in the office sector, investment market activity improved again in October, increasing from £2.5bn in September to £2.8bn. Even so, anecdotal... 24th November 2011 · 1 min read
UK Commercial Property Data Response RICS Construction Survey (Q3) Today’s RICS construction survey again showed divergent trends, with declines in public sector activity in Q3 broadly offset by growth in the private sector. But in turn, the latter depended solely on... 23rd November 2011 · 1 min read
UK Commercial Property Data Response Colliers/Real Estate Capital Pricing Survey Respondents to the Colliers/Real Estate Capital survey now expect commercial property prices to fall in 2012. The anticipated decline is roughly 2%, driven by adverse yield impact. However, we suspect... 21st November 2011 · 1 min read
Europe Commercial Property Chart Pack Weaker investment flows in the pipeline Uncertainty about the euro-zone economic outlook is prompting property investors to act more cautiously. Activity in Q3 was driven by deals initiated before the summer’s turmoil. We agree with survey... 21st November 2011 · 1 min read
UK Commercial Property Update What does the fall in export orders mean for industrial rents? The order books of UK manufacturing firms have taken a knock over the past few months and the steadily weakening prospects for the euro-zone suggest that there is worse to come. All else equal, this... 17th November 2011 · 1 min read
Europe Commercial Property Update Which sector might fare worst from the looming Italian recession? The prospect of a renewed recession in Italy is likely to mean that in each of the next two years all of the main commercial property sectors will see capital value falls. But the weak outlook for... 16th November 2011 · 1 min read
Europe Commercial Property Update Czech industrial market outlook darkens, but further rent falls unlikely The surge in the Czech industrial development pipeline has coincided with a marked softening in the occupier demand outlook. But we do not think that the vacancy rate will return to 2009’s highs... 15th November 2011 · 1 min read
UK Commercial Property Outlook Capital values to slide 5% in 2012 We think that UK GDP will be flat in 2012 as a whole, with a technical recession likely in H1. Accordingly, commercial property rental values are likely to fall next year and income security fears... 14th November 2011 · 1 min read
UK Commercial Property Update Has the worst passed for public sector cuts to London office demand? To us, it seems likely that the worst of the effects of fiscal tightening on public sector demand for Central London offices has not yet passed. To be fair, the public sector probably accounts for... 11th November 2011 · 1 min read
Non-Euro Europe Commercial Property Outlook Property returns to be dented by the global slowdown Most non-euro-zone European economies will avoid a recession in 2012, but not a marked slowdown in GDP growth. Even so, the weaker outlook for occupier demand suggests that rental value growth in most... 10th November 2011 · 1 min read
