UK Commercial Property Update How concerning is the decline in industrial take-up? The sharp drop in industrial take-up in recent quarters may be a sign that the sector is becoming more vulnerable to changes in economic conditions. Indeed, the decline has coincided with a 25% drop... 24th August 2023 · 3 mins read
Europe Commercial Property Update An end in sight to the German retail rout? The German retail market has been one of the weakest in Europe since the beginning of 2022 and rental performance so far in 2023 has been well below the euro-zone average. But, with consumer... 24th August 2023 · 3 mins read
US Commercial Property Chart Pack US Commercial Property Chart Pack (Q3 2023) All-property values are down by 10% from their mid-2022 peaks, but we think there is still another 15% to come by the end of 2024. Much of that price fall will be driven by a rise in cap rates in... 23rd August 2023 · 1 min read
UK Commercial Property Update Shopping centre rental recovery peters out In contrast to shops and retail warehouses, the nascent recovery in shopping centre rents has already faded. The shift to remote work and greater exposure to online competition has led to relatively... 14th August 2023 · 3 mins read
US Housing Market Outlook Prices stabilize, but activity to remain weak With affordability stretched and the economy slowing, housing market activity is expected to remain weak over the coming quarters. While we expect house prices to lose some of their recent momentum... 11th August 2023 · 15 mins read
UK Housing Market Outlook Renewed falls in activity and house prices imminent Our forecast that the Bank of England won’t start cutting interest rates until the second half of 2024 means mortgage rates are likely to stay between 5.5% and 6.0% for the next 12 months. That will... 4th August 2023 · 20 mins read
UK Commercial Property Update Offices drop-in: Answers to client questions Last week, we held a Drop-In on the future of office property. This Update provides answers for a variety of questions from a UK perspective that emerged from the discussion. 2nd August 2023 · 4 mins read
Australia & New Zealand Economics Weekly Australia confronts its rental crisis Although Q2 CPI data for Australia were softer than most had expected, rental inflation continued to accelerate. Moreover, leading indicators suggest that rental inflation likely won't peak before... 28th July 2023 · 8 mins read
UK Commercial Property Rapid Response RICS Commercial Property Market Survey (Q2 23) The Q2 RICS commercial survey is in line with our view that, whilst the worst is now behind us, yields will see a further rise this year and rental growth will fall back. That will keep total returns... 27th July 2023 · 2 mins read
UK Commercial Property Chart Pack UK Commercial Property Chart Pack (Jul. 23) Higher-than-expected core inflation means interest rates are now set to be higher for longer and we still think the economy will enter a mild recession later this year. That’s not a great backdrop for... 20th July 2023 · 1 min read
UK Housing Market Update Revisiting our estimates of lossmaking rental properties Mortgage rates have risen to a level that could cause costs on a fifth of rental homes to exceed the rent. That is likely to lead to a significant number of forced rental property sales, which will... 19th July 2023 · 4 mins read
US Commercial Property Apartment Metros Outlook Clear split between weak west and strong south The latest economic and property market data support the view we’ve held since last year that there would be a growing differentiation between southern and western markets. We expect that to persist... 11th July 2023 · 7 mins read
London Housing Markets Chart Pack London Housing Chart Pack (Q3 2023) This new Chart Pack has been designed to replace our Chart Book in response to client feedback to make our insights more accessible, and with more options to incorporate them into your workflow. Use... 10th July 2023 · 1 min read
US Commercial Property Office Metros Outlook San Francisco and Seattle values to drop 40% in 2023-25 Further downgrades to our national office outlook have driven corresponding cuts to return prospects in our metro-level forecasts this quarter. San Francisco still has the poorest outlook, with our... 7th July 2023 · 12 mins read
UK Commercial Property Update Industrial well-placed to weather recession With interest rates now set to be higher for longer, we are sticking with our view the UK will enter a recession later this year. That will hit occupier demand across all property sectors, but... 23rd June 2023 · 3 mins read
UK Commercial Property Chart Pack Surge in interest rates means yields will rise further All-property yields have seen no movement for the past two months and combined with resilient rental growth that means capital values have held firm since March. But stubbornly high inflation has led... 22nd June 2023 · 7 mins read
