US Commercial Property Update

Trump and US CRE: Four key client questions

The first week of the new Trump administration hasn’t thrown up any huge surprises in terms of policy announcements. But there remains considerable uncertainty about the impact of those policies and...

24th January 2025 · 4 mins read

US Housing Market Rapid Response

Housing Starts (Dec. 2024)

The large rebound in housing starts and continued resilience of building permits in December provides some support to our forecast that starts will remain solid in the first half of the year. However...

17th January 2025 · 2 mins read

UK Commercial Property Update

Drop in foreign students a small risk for PBSA rents

At first glance the 24% y/y drop in sponsored study visas in Q3 2024 spells bad news for PBSA rents. But the cause of that drop - new rules banning international students from bringing dependents -...

14th January 2025 · 3 mins read

US Commercial Property Update

Fires in LA highlight rising climate-related risk to CRE

While commercial real estate insurance premiums remain elevated, their growth dropped back substantially last year. But as the West and Gulf coasts still face the greatest threat from climate risks...

13th January 2025 · 3 mins read

US Housing Market Outlook

Sales slump to drag into 2025

The potentially inflationary policy mix of the incoming Trump administration will limit the decline in mortgage rates this year, squashing hopes for a major recovery in home sales. We expect...

8th January 2025 · 14 mins read

US Housing Market Rapid Response

Mortgage Applications (Dec. 2024)

The small decline in purchase mortgage applications in December is worse than it looks, as it masks a collapse in demand in the final few weeks of the month, driven by mortgage rates climbing above 7%...

8th January 2025 · 2 mins read

US Commercial Property Apartment Metros Outlook

Atlanta, Dallas, Houston and Phoenix to lead the way

Our apartment metro forecasts continue to show significant variation between metros, even within regions. For example, while we expect continued strong demand growth in the South – especially in...

23rd December 2024 · 7 mins read

US Housing Market Rapid Response

Existing Home Sales (Nov. 2024)

The increase in existing home sales in November, despite rising mortgage rates and weakening mortgage applications the month before, points to stronger demand from cash buyers, possibly driven by...

19th December 2024 · 2 mins read

US Housing Market Rapid Response

Housing Starts (Nov. 2024)

The decline in housing starts in November was entirely due to weakness in multifamily construction, which outweighed a post-hurricane rebound in single-family construction. The rise in permits to a...

18th December 2024 · 2 mins read

UK Housing Market Chart Pack

UK Housing Market Chart Pack (Dec. 2024)

The sharp rise in transactions in October and the acceleration in house price growth in November suggest some relief rally or pent-up demand after the Budget is more than offsetting the recent rises...

17th December 2024 · 1 min read

US Commercial Property Outlook

Total returns to turn positive in 2025, but offices still weigh

The backdrop to our new real estate forecasts is a small reduction in our GDP forecasts and higher level of interest rates than previously. This weighs on the outlook, and we have trimmed our total...

12th December 2024 · 20 mins read

US Housing Market Update

Rental growth to pick-up as apartment supply drops off

The peak in new apartment supply has passed, with completions set to drop back sharply over the next few years. If demand continues to hold up well as we expect, this should put downward pressure on...

10th December 2024 · 3 mins read

US Housing Market Rapid Response

Mortgage Applications (Nov. 2024)

The rebound in purchase mortgage applications in November shows that there were some signs of life in the market, despite the return of 7% mortgage rates. But taking a step back, activity remains...

4th December 2024 · 2 mins read

US Commercial Property Update

Post-pandemic student housing rebound to be short-lived

Tight supply conditions will drive a solid rent outlook for the student housing sector over the next year. But the bigger picture remains one of slowing demand as steady declines in the college-age...

3rd December 2024 · 3 mins read

US Housing Market Chart Pack

US Housing Market Chart Pack (Nov. 24)

Conditions for would-be homebuyers and sellers will not improve much in the near term, with mortgage rates set to remain around 7% through the first half of next year, before modest relief arrives...

2nd December 2024 · 1 min read