US Commercial Property Update How far could industrial yields fall? Industrial yields look likely to reach our end-2021 forecasts by mid-year, leading us to re-evaluate the outlook for pricing. Although gains in rents and capital values are driving increased... 26th May 2021 · 3 mins read
US Commercial Property Valuation Monitor Rising Treasury yields to squeeze valuations further Following a sharp increase in Treasury yields, property valuations worsened for the second consecutive quarter in Q1. And we expect 10-Yr Treasury yields to resume their upward trend to reach 2.25% by... 21st May 2021 · 6 mins read
US Commercial Property Update ULI Consensus Forecast (Spring 2021) Consensus forecasts for the next two years have been revised upwards, largely driven by a more upbeat view on the industrial sector. As a result, we are now more downbeat than the survey respondents... 19th May 2021 · 2 mins read
US Commercial Property Data Response Commercial Property Lending (Apr.) Outstanding commercial real estate debt nudged higher in April. And with the vaccine rollout allowing more of the economy to reopen and lending standards set to loosen, we expect to see further gains... 14th May 2021 · 2 mins read
US Housing Increased demand for larger apartments to persist Increased demand for larger apartments to accommodate working from home is already evident in NYC, where the inventory of units with two or more bedrooms has seen a sharper decline compared to smaller... 14th May 2021 · 3 mins read
US Commercial Property Chart Pack Apartments starting to recover; offices deteriorating The economic recovery looks well-set, which should support occupier markets. However, structural change in the office sector means that occupier demand continues to fall, even while the beleaguered... 13th May 2021 · 13 mins read
US Commercial Property Update Is there scope for office to residential conversions? There currently appears to be little economic scope for conversions to residential across the six major office markets. But our forecasts of falling values and rising vacancy in the office sector... 7th May 2021 · 3 mins read
US Commercial Property Data Response RICS Commercial Market Survey (Q1) Weakness in office and retail occupier demand weighed heavily on market sentiment in Q1. Commercial property agents are therefore downbeat about rental and capital values in these sectors over the... 29th April 2021 · 2 mins read
US Commercial Property Data Response US Metro Employment (Mar.) Employment growth in the three-months to March was positive in almost all metros, but those in southern states tended to be the better performers. With Miami’s hospitality sector performing... 28th April 2021 · 2 mins read
US Commercial Property Data Response NCREIF Property Index (Q1 2021) All-property total returns rose again in Q1, driven by improvements in all sectors, although retail and hotel returns were again negative. But the industrial sector boom continued, with six-month... 27th April 2021 · 3 mins read
US Commercial Property Update TV and film to support LA office demand We expect a strong recovery in TV and film-related employment will support office demand in LA over the next five years. Alongside a relatively small development pipeline and low office rents, this... 23rd April 2021 · 3 mins read
US Commercial Property Update D.C. service sector supports out-performance In our recent Office and Apartment Outlooks, we identified Washington D.C. as the top performer over a five-year forecast in both sectors. Those expectations are driven by several factors influencing... 20th April 2021 · 3 mins read
US Housing Is there still a bright future for Sunbelt apartments? The easing of virus restrictions and return to offices for many white-collar workers will mean that apartment markets in cities such as NYC and Washington D.C. will outperform this year. But we think... 15th April 2021 · 3 mins read
US Commercial Property Update What does 2021 have in store for investment volumes? Property investment volumes held up better than we anticipated in 2020, and we are expecting 2021 to be a solid year for investment. We think that pent-up demand and the reopening of the economy will... 14th April 2021 · 3 mins read
US Commercial Property Data Response Commercial Property Lending (Mar.) Commercial real estate debt fell for the second consecutive month in March. That likely reflects weak investment activity due to virus restrictions. But, as constraints continue to ease and investment... 9th April 2021 · 2 mins read
US Commercial Property Data Response US Metro Employment (Feb.) Employment growth in the three-months to February was heavily influenced by the rate of virus cases and consequent restrictions in place. And office-based jobs growth is still strongest in mid-sized... 7th April 2021 · 2 mins read
