Australia & New Zealand Economics Update New Zealand - House prices to fall in 2022 We expect the RBNZ to impose new lending restrictions in the months ahead which, in addition to rising interest rates, should result in house prices declining next year. 17th June 2021 · 2 mins read
UK Commercial Property Should investors be worried about higher inflation? Recent strong inflation data have heightened concerns about global price pressures. At present, we think there will be limited impact on short-term property performance. Further out though, higher... 16th June 2021 · 3 mins read
UK Commercial Property Update Economic tailwinds not enough for a retail revival Upbeat economic data suggest that consumers have been flocking back to the shops since the reopening of non-essential retail in April. But this is probably not enough to turn around the fortunes of a... 14th June 2021 · 3 mins read
US Commercial Property Data Response Commercial Property Lending (May.) Commercial real estate debt held by banks grew again in May. But while we expect growth to accelerate as the year progresses and confidence returns, investor caution toward the office and retail... 11th June 2021 · 2 mins read
US Commercial Property Outlook Substantial upgrades to industrial and apartments this year The economic recovery continues in earnest, but this is raising questions about quite how transitory the current high rates of inflation are. We think that core inflation will stay elevated, which... 10th June 2021 · 24 mins read
Europe Commercial Property Update Are green commercial leases the future? With emission targets needing to be met by 2030, the race is on for the real estate sector to decarbonise. By forcing tenants and landlords to share the risks, benefits and costs of environmental... 10th June 2021 · 4 mins read
UK Commercial Property Update Can urban logistics fill the void in cities? The acceleration of structural shifts is likely to result in some conversion of retail and to a lesser extent office space to urban logistics use. However, we think these conversions will be... 9th June 2021 · 3 mins read
Europe Commercial Property Update Hawkish CEE policy shift to push up property yields Our expectation for more aggressive monetary tightening in Central and Eastern Europe and the subsequent upward pressure on bond yields mean that we now expect property yields to rise by more from... 7th June 2021 · 3 mins read
UK Commercial Property Data Response IHS Markit/CIPS Construction PMI (May) Construction output rose further above pre-virus levels in May despite growing shortages of contractors and materials, and high cost inflation. 4th June 2021 · 3 mins read
Europe Commercial Property Update Consensus catching up to the view of a weak recovery The latest IPF Consensus forecasts are consistent with our view that prime office rents will fall this year and the recovery in 2022 will be weak, even as the easing of virus restrictions allows... 3rd June 2021 · 3 mins read
US Commercial Property Data Response US Metro Employment (Apr.) Employment growth in the three-months to April was positive in all 30 of the largest metros. However, the rate of growth remains slow as labour shortages weigh on the jobs recovery. As a result, total... 2nd June 2021 · 2 mins read
UK Commercial Property Data Response Lending to commercial property (Apr.) We think a reduced willingness by lenders to allow for further payment holidays probably explains the sharp fall in net lending to property in April. Looking ahead, we expect subdued transaction... 2nd June 2021 · 2 mins read
Europe Commercial Property Valuation Monitor Rise in bond yields weighs on property valuations The marked rise in government bond yields drove a deterioration in property valuations in Q1, particularly in industrial markets where property yields also fell steeply. And with government bond... 2nd June 2021 · 6 mins read
US Commercial Property Update Austin and Seattle set to slide down the office rankings Although office values have held up well in tech hubs such as Seattle and Austin, they have also seen some of the largest falls in occupier demand. Further substantial reductions in floorspace by tech... 1st June 2021 · 3 mins read
UK Commercial Property Chart Pack Signs are positive but headwinds remain Capital growth was solid in April at 0.5% m/m, although that reflected a slight reduction from the rate seen in March. Looking ahead, we expect the recovery in economic activity to continue which will... 28th May 2021 · 1 min read
Non-Euro Europe Commercial Property Chart Pack Scandinavia & Switzerland: Upside risk to industrials Capital value growth improved in Scandinavia and Switzerland in Q1, helped by the easing of virus restrictions and by the improvement in economic activity towards the end of the quarter. The uptick in... 28th May 2021 · 6 mins read
