UK Housing Credit Conditions Survey (Q1 2021) Robust house price growth and the prospect of a strong economic recovery have caused banks’ risk appetite to return. As a result, banks expect to increase the availability of high LTV loans and reduce... 15th April 2021 · 3 mins read
UK Commercial Property Update Limited risk to industrial rents from development At face value, news of a marked rise in industrial completions this year should imply that rents may come under pressure soon. However, we expect strong occupier demand and the limited amount of... 14th April 2021 · 3 mins read
UK Housing IHS Markit/CIPS Construction PMI (Mar.) A broad-based strengthening in construction activity pushed up the construction PMI to a six-and-a-half-year high in March. Strong housing and logistics development will continue to support... 8th April 2021 · 2 mins read
UK Housing Is build-to-rent investment about to take off? While investment in build-to-rent developments has been notably resilient over the past year, we continue to think that the growth of the sector will be slow for two reasons. First, high house prices... 7th April 2021 · 3 mins read
UK Commercial Property Update Retail parks best of a bad bunch (but not for long) Though retail warehouse rents saw their largest ever annual fall in 2020, this drop was not as deep as in other retail sub-sectors. Looking ahead, while a higher level of remote working than before... 1st April 2021 · 3 mins read
UK Commercial Property Data Response Lending to commercial property (Feb.) The increase in February’s net lending total was the first rise since September last year. We think this can be explained by the extension of payment holidays rather than a rise in new loans. Looking... 29th March 2021 · 2 mins read
UK Commercial Property Update Rising vacancy brings downgrade London office view With office occupiers cutting space requirements, London office vacancy has climbed sharply. Our estimates suggest that vacancy is likely to rise even further over the next year or so and we have... 26th March 2021 · 3 mins read
Europe Commercial Property Are data centres a viable alternative? Thanks to changing consumption patterns and structural and cyclical knocks to the traditional property sectors, both occupier and investor demand for data centres set new records last year. But, while... 19th March 2021 · 3 mins read
UK Commercial Property Chart Pack Reversal in capital growth likely in H1 After stabilising at the start of the year, all-property capital values grew slightly in February. But we don’t think this spells the start of a sustained recovery over the next few months. After all... 18th March 2021 · 7 mins read
UK Commercial Property Update Another tough year ahead for Central London retail Despite the lockdown, a recent pick-up in footfall suggests that people are returning to the capital, which, if it continues as non-essential stores re-open, would be welcome news for London’s hard... 10th March 2021 · 3 mins read
UK Commercial Property Update Limited impact of bond yield rises on UK property We think the recent jump in bond yields will not continue and, though we think that they are unlikely to drop back to their previous lows, supportive valuations against bonds will limit upward... 8th March 2021 · 3 mins read
UK Housing IHS Markit/CIPS Construction PMI (Feb.) The rebound in the construction PMI in February suggests that the dip in activity in January was due to heavy rainfall rather than any deterioration in demand. While residential activity continues to... 4th March 2021 · 3 mins read
UK Commercial Property Data Response Lending to commercial property (Jan.) Net lending remained negative in January and we think this is explained by weak transactions and renewed UK lockdown. Looking ahead, any recovery in lending to commercial property is likely to be slow... 1st March 2021 · 2 mins read
UK Commercial Property Data Response IPF Consensus Forecasts (Feb.) Though February’s IPF Consensus Forecasts were upgraded for 2021, we remain somewhat more upbeat on UK commercial property performance. Further ahead, our gloomier view for the office sector means... 26th February 2021 · 3 mins read
UK Commercial Property Chart Pack Weak start to the year for property The rise in all-property capital values in late-2020 proved short-lived and they flattened off again in January. The recent roadmap for easing England’s current lockdown is broadly consistent with our... 25th February 2021 · 7 mins read
UK Commercial Property Outlook COVID-19 scarring slow to heal Effective vaccines provide a path out of the COVID-19 economic slump, but commercial property will be slow to benefit. On the bright side, the real estate downturn has been milder than expected and we... 19th February 2021 · 25 mins read
