Europe Commercial Property Update

Out-of-town retail will continue to beat the street

Non-high street retail subsectors have seen a stronger rental recovery from post-pandemic lows than high street shops. And we think this outperformance will continue given tighter availability and...

3rd October 2024 · 4 mins read

Global Commercial Property Chart Pack

Global Commercial Property Chartpack (Q3 2024)

All-property values have stabilised in the UK but we expect further falls elsewhere, especially in the US. Combined with a weaker office outlook, the US is set to underperform over the next couple of...

2nd October 2024 · 0 mins read

US Commercial Property Apartment Metros Outlook

Miami apartment market to feel the heat over 2025-28

Apartment markets are turning a corner, and we now expect the sector to outperform over the five year forecast. As new supply drops back from the second half of next year, we expect a mixture of...

1st October 2024 · 7 mins read

UK Commercial Property Rapid Response

Lending to commercial property (Aug. 24)

Net lending to property reached £1.26bn in August, up from £520m the previous month. While lending to standing assets was responsible for the lion’s share of the increase, lending for development was...

30th September 2024 · 1 min read

Europe Commercial Property Update

German logistics to go from leader to laggard

Tight supply conditions have boosted German prime logistics rents despite weak occupier demand. This looks set to continue over the next year or two given completions pipelines for the German markets...

26th September 2024 · 4 mins read

UK Commercial Property Update

Leisure to struggle as high earners’ incomes squeezed

The leisure sector is yet to show signs of recovery from the cost-of-living crisis, in part because still-cautious households are prioritising buying goods rather than expensive leisure services. But...

26th September 2024 · 3 mins read

US Commercial Property Update

Innovation clusters to drive flex R&D performance

The flex industrial subsector outperformed most other property types over the last cycle. Its underlying characteristics mean demand and returns will continue to be healthy ahead, though the winning...

25th September 2024 · 3 mins read

Commodities Update

New China stimulus won’t lift commodity demand

While the announcement of new stimulus measures by Chinese officials coincided with increases in many commodity prices, the package does not materially alter the outlook for China’s commodity demand...

25th September 2024 · 2 mins read

Europe Commercial Property Outlook

Industrial to outperform as muted recovery gets underway

After two disappointing years, commercial property values have stabilised. However, the recovery is set to be weak. We think yield falls in the coming years will be small compared to previous...

23rd September 2024 · 28 mins read

US Commercial Property Office Metros Outlook

Houston rockets to the top of the office rankings

Offices are still in for a tough few years, with markets like San Francisco, LA and Seattle likely to come out of the downturn with values down 55% or more from their 2019 peaks. However, there are...

20th September 2024 · 7 mins read

UK Commercial Property Chart Pack

UK Commercial Property Chart Pack (Sep. 24)

Yields have now peaked in most sectors and capital values are close to bottoming out. However, with not much prospect for yield compression the recovery will be weak by past standards. Thanks to...

19th September 2024 · 1 min read

US Housing Market Rapid Response

Housing Starts (Aug. 2024)

The large rise in housing starts in August was due to a rebound in starts in the south, confirming that the July slump was a temporary disruption caused by Hurricane Beryl. The increase in permits...

18th September 2024 · 2 mins read

UK Commercial Property Update

Will remote work go into reverse?

We doubt the announcement by Amazon that it is requiring office-based workers to return full-time marks the start of a reversal in the remote work share. It is far from clear that requiring five days...

18th September 2024 · 4 mins read

UK Housing Market Chart Pack

UK Housing Market Chart Pack (Sep. 2024)

We doubt the small fall in Nationwide house prices in August was the start of a renewed downturn. Surveys suggest the recent declines in mortgage rates have led to an increase in housing demand, while...

17th September 2024 · 1 min read

Europe Commercial Property Focus

Regional divide in euro-zone office yield outlook

Taking stock of euro-zone office yields after their recent stabilisation reveals a convergence across the region, with spreads between the northern markets and the historically higher-risk southern...

17th September 2024 · 15 mins read