UK Commercial Property Update Could retail warehouse rents provide a positive surprise? The fact that real rental values are 22% below their previous peak and housing transactions are set to strengthen, suggest that retail warehouse rental values have substantial scope to rise. However... 25th November 2016 · 1 min read
UK Commercial Property Outlook Has the storm passed? Looser monetary policy, a healthy run of economic data, as well as some signs that the impact of the referendum on capital values is fading, mean that we have made some minor upgrades to our forecasts... 22nd November 2016 · 1 min read
UK Commercial Property Update Will the bond sell-off push property yields higher? The recent surge in gilt yields has reversed much of the widening in the property-to-gilt spread seen after the referendum. Yet, at 390bp, the gap between the all-property yield and gilts is still... 18th November 2016 · 1 min read
Europe Commercial Property Update Slower Spanish retail rental growth likely to prove temporary Retail rental growth in Barcelona and Madrid has slowed recently, despite the continued strength of retail sales. With weaker domestic demand on the horizon, rental growth is likely to ease further... 18th November 2016 · 1 min read
UK Commercial Property Update Headline supply overstates the risk to London office rents The size of London’s active pipeline has risen slightly since May. More supply poses a risk to rental values. However, the likelihood of a rental correction depends on both the net increase in supply... 15th November 2016 · 1 min read
Europe Commercial Property Chart Pack Fall in yields regains momentum in Q3 The pace at which all-property euro-zone yields are falling picked up in Q3. The 11bp decline was larger than the 6bp fall in Q2 and broad-based across both sectors and markets. As a result, capital... 11th November 2016 · 1 min read
UK Commercial Property Data Response Commercial property investment (Oct.) Investment activity fell back by about a third compared to September. With overseas investors still net buyers of UK property, and the effects of the referendum on capital values now fading, we think... 11th November 2016 · 1 min read
Europe Commercial Property Update Retail rental growth in Lisbon down but not out Prime retail rents in Lisbon have risen by more than one-third in the last six years, supported by policy reform, a rise in tourist numbers and an economic recovery. But, with slower economic growth... 3rd November 2016 · 1 min read
Europe Commercial Property Update Rally in Berlin office rents not over yet Prime office rents in the German capital, Berlin, have surged this year. With a positive economic environment and limited development pipeline, the rise in rental values has further to run. 28th October 2016 · 1 min read
UK Commercial Property Chart Pack Capital values appear to be stabilising Overall, September provided some reasons to be optimistic. With occupier market conditions holding up well, and monetary policy expected to stay loose, we suspect that the bulk of the capital value... 27th October 2016 · 1 min read
UK Commercial Property Data Response RICS Commercial Property Market Survey (Q3) The latest RICS Commercial Property Survey highlighted that occupier and investor demand have improved, while supply conditions are likely to be constrained. Both factors should provide support to... 27th October 2016 · 1 min read
Europe Commercial Property Update What might derail our European property yield forecasts? The prevailing view is that European property yields have essentially reached their trough. But we disagree and have pencilled in falls of 40bps from here. Nevertheless, it is prudent to ask what... 21st October 2016 · 1 min read
UK Commercial Property Update What is driving overseas demand for UK property? The widely held view that the drop in the pound is the primary factor propping up demand for UK property among overseas buyers is not wrong – but it is too simplistic. The fall in sterling will have... 21st October 2016 · 1 min read
UK Commercial Property Data Response RICS Construction Market Survey (Q3) According to today’s RICS construction survey, both current and expected activity improved on the second quarter’s poor showing. But with the industrial and private commercial balances both below the... 20th October 2016 · 1 min read
Europe Commercial Property Update Investment in mainland Europe running at nine-year high The first European investment data for Q3 show that volumes were down sharply compared to the same quarter a year ago. But that was driven by subdued activity in the UK which, being one of the most... 18th October 2016 · 1 min read
UK Commercial Property Update Is falling floor space per worker always a risk to availability? If permanent, the trend towards higher density occupation in London’s office market points to an increased risk of oversupply arising from new construction. Yet at the same time, that trend should... 14th October 2016 · 1 min read
