UK Commercial Property Update Limited downside risk to prices from Brexit The impact of the pandemic on property has superseded that of Brexit, but that's not to say that Brexit risks can or should be fully discounted. While we expect a slim deal to be agreed this year, we... 28th August 2020 · 3 mins read
UK Commercial Property Chart Pack Further hit to values yet to come Rents and capital values fell at a slower pace in July than was recorded in June. But, while values seem to be approaching a degree of stability, we expect a deterioration in the rental outlook will... 27th August 2020 · 7 mins read
UK Commercial Property Outlook Structural change hits rental growth The near-term outlook for most commercial property sectors is poor despite the early signs of economic recovery. Although transactions are set to pick-up post-lockdown, we think property yields will... 19th August 2020 · 25 mins read
UK Markets Outlook Time to shine UK assets may outperform overseas assets over the next year or two even though the UK’s economic recovery from the coronavirus crisis may take longer. We think that a larger expansion in the Bank of... 13th August 2020 · 13 mins read
UK Commercial Property Update Reservations about the hotel recovery Travel restrictions and caution shown by holidaymakers have hit the hotel sector hard. While there has been a boost from the temporary cut in VAT for hospitality and tourism, weak global growth and... 11th August 2020 · 3 mins read
US Commercial Property Focus Remote working to hit office income by 20-25% We think that the enforced remote-working experiment of recent months will cause a dramatic demand shift in the office sector, with as many as 50% of office-based employees working from home at least... 6th August 2020 · 25 mins read
UK Commercial Property Data Response IHS Construction PMI / RICS Construction (Jul/Q2.) The rise in July’s construction PMI is an encouraging sign for activity. Looking ahead, we expect housing construction will lead the upturn in activity, while further falls in values in the commercial... 6th August 2020 · 2 mins read
UK Commercial Property Data Response RICS Commercial Property Market Survey (Q2) The RICS survey confirmed demand for property declined again in Q2 and the outlook for rents and capital values worsened across all sectors. While surveyors were most pessimistic about retail and... 30th July 2020 · 2 mins read
UK Commercial Property Data Response Lending to commercial property (Jun.) As expected, net lending to property eased in June from the sharp rise in May. As the recovery in transaction activity is likely to be slow, we expect demand for new lending to be weak for the rest of... 29th July 2020 · 2 mins read
UK Commercial Property Chart Pack Better signs, but more pain still expected Although there were further signs of stabilisation in June, we expect that the slow recovery in the economy will continue to put upward pressure on yields in the coming months. Meanwhile, rents fell... 27th July 2020 · 8 mins read
UK Commercial Property Update Are we too gloomy about industrial? The strength of industrial take-up in Q2 was driven by a ramp-up in delivery capacity, particularly by supermarkets and Amazon. Along with the continued upward trend in the MSCI monthly data, this... 24th July 2020 · 3 mins read
UK Commercial Property Data Response Bank of England Credit Conditions Survey (Q2) Mortgage credit availability collapsed in Q2, while commercial loan conditions improved on the back of government loan guarantees. Looking ahead, lenders expect both commercial and residential... 16th July 2020 · 3 mins read
UK Commercial Property Update REIT prices highlight wide sectoral divergence While all-property capital values lag real estate equity prices, the movement in REIT prices can also tell us something about sector performance. The staggered recovery in REITs from March’s low point... 3rd July 2020 · 3 mins read
UK Commercial Property Data Response Lending to commercial property (May.) The notable rise in net lending in May was probably due to lenders allowing for payment holidays rather than an increase in new loans to investors. But, these measures can only continue in the short... 29th June 2020 · 2 mins read
UK Commercial Property Chart Pack Rental falls intensify, but yield increases slow While rental values fell sharply in May, this was in part offset by yields increasing at a much slower pace than the previous month. In turn, this led to a less steep fall in capital values, but... 26th June 2020 · 7 mins read
UK Commercial Property Update Is it last orders for pub investors? While there has been a decline in the number of pubs, revenues had been rising in recent years. This has led to some big deals in the sector and falling prime yields. Nevertheless, when pubs re-open... 19th June 2020 · 3 mins read
