UK Commercial Property Update

Short and timely commentaries on news or events in the commercial property market, such as relevant Government consultations, the Budget, and major pieces of property research.

Sample - Derivatives pricing highlights downside risks to capital values

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UK Commercial Property > UK Commercial Property Update — 18 May, 2012The pace of deleveraging may pick up even further UK Commercial Property > UK Commercial Property Update — 10 May, 2012Have non-prime yields passed their trough?UK Commercial Property > UK Commercial Property Update — 04 May, 2012How is the London office development pipeline holding up?UK Commercial Property > UK Commercial Property Update — 19 Apr, 2012Relocations are another downside risk to West End office rents UK Commercial Property > UK Commercial Property Update — 17 Apr, 2012Can stronger industrial occupier market conditions last?UK Commercial Property > UK Commercial Property Update — 11 Apr, 2012Rental values - are comparisons with the 1990s relevant?UK Commercial Property > UK Commercial Property Update — 02 Apr, 2012Central London office rents remain on track to rise this year UK Commercial Property > UK Commercial Property Update — 27 Mar, 2012The best may have passed for hotel property returns UK Commercial Property > UK Commercial Property Update — 14 Mar, 2012Financial and business services sector jobs (Q4)UK Commercial Property > UK Commercial Property Update — 13 Mar, 2012Do surveys alleviate worst fears about the refinancing outlook?

UK Commercial Property > UK Commercial Property Update — 16 Feb, 2012Jobs growth unlikely to be a sign of rising occupier demand UK Commercial Property > UK Commercial Property Update — 08 Feb, 2012Is availability still relevant to the industrial rental outlook?UK Commercial Property > UK Commercial Property Update — 07 Feb, 2012Will retail warehouses underperform in the medium term?UK Commercial Property > UK Commercial Property Update — 01 Feb, 2012Have investors pushed UK property too far down their rankings?UK Commercial Property > UK Commercial Property Update — 20 Jan, 2012Have industrial rents become less sensitive to GDP?UK Commercial Property > UK Commercial Property Update — 16 Jan, 2012Further bad news for retail occupier demand and rents UK Commercial Property > UK Commercial Property Update — 09 Jan, 2012Survey points to sharp slowdown in Central London office rents UK Commercial Property > UK Commercial Property Update — 15 Dec, 2011Derivatives pricing highlights downside risks to capital values UK Commercial Property > UK Commercial Property Update — 07 Dec, 2011Should we be concerned about institutions’ property sell-off?UK Commercial Property > UK Commercial Property Update — 02 Dec, 2011Will shopping centre rental values continue to underperform?

UK Commercial Property > UK Commercial Property Update — 17 Nov, 2011What does the fall in export orders mean for industrial rents?UK Commercial Property > UK Commercial Property Update — 11 Nov, 2011Has the worst passed for public sector cuts to London office demand?UK Commercial Property > UK Commercial Property Update — 07 Nov, 2011IPD yields likely to drift higher in 2012 UK Commercial Property > UK Commercial Property Update — 24 Oct, 2011Outperformance by retail property income unlikely to last UK Commercial Property > UK Commercial Property Update — 20 Oct, 2011Income streams unlikely to be immune to weak economic backdrop UK Commercial Property > UK Commercial Property Update — 19 Oct, 2011Economic prospects even weaker; property prices set to fall in 2012 UK Commercial Property > UK Commercial Property Update — 17 Oct, 2011Euro crisis to tip the UK back into recession UK Commercial Property > UK Commercial Property Update — 10 Oct, 2011Little reason to expect new QE to have major impact on property UK Commercial Property > UK Commercial Property Update — 03 Oct, 2011Weaker financial services sector points to soft office rent outlook UK Commercial Property > UK Commercial Property Update — 19 Sep, 2011Bond yields of 2% over the medium term will support property

UK Commercial Property > UK Commercial Property Update — 16 Sep, 2011Real retail rental value correction on track to be largest ever UK Commercial Property > UK Commercial Property Update — 08 Sep, 2011Transactions may bear the brunt of any drop in risk appetite UK Commercial Property > UK Commercial Property Update — 24 Aug, 2011More evidence that property yields have found a floor UK Commercial Property > UK Commercial Property Update — 18 Aug, 2011Will refurbishment activity improve further?UK Commercial Property > UK Commercial Property Update — 11 Aug, 2011Prime retail property not immune to further consumer spending falls UK Commercial Property > UK Commercial Property Update — 20 Jul, 2011Can we trust the message from real estate equity prices?UK Commercial Property > UK Commercial Property Update — 15 Jul, 2011Why has industrial property income fared so poorly?UK Commercial Property > UK Commercial Property Update — 13 Jul, 2011Outperformance by leisure services may not last much longer UK Commercial Property > UK Commercial Property Update — 05 Jul, 2011A surge in City and West End office rents remains unlikely UK Commercial Property > UK Commercial Property Update — 21 Jun, 2011Industrial sub-sector yield gap more likely to close than widen

UK Commercial Property > UK Commercial Property Update — 02 Jun, 2011Will West End office rents outpace the City this year?UK Commercial Property > UK Commercial Property Update — 12 May, 2011Will the feared, fresh slump in non-prime capital values be avoided?UK Commercial Property > UK Commercial Property Update — 20 Apr, 2011Are Central London office yields too low?UK Commercial Property > UK Commercial Property Update — 15 Apr, 2011Have institutions' property allocations passed their trough?UK Commercial Property > UK Commercial Property Update — 13 Apr, 2011Is West End retail's outperformance set to end?UK Commercial Property > UK Commercial Property Update — 05 Apr, 2011Cautious view on Central London office rents still looks right UK Commercial Property > UK Commercial Property Update — 23 Mar, 2011Budget 2011 - No short-term fixes for property UK Commercial Property > UK Commercial Property Update — 16 Mar, 2011Financial and business services sector jobs (Q4)UK Commercial Property > UK Commercial Property Update — 14 Mar, 2011Weight of equity an upside risk to commercial property prices UK Commercial Property > UK Commercial Property Update — 10 Mar, 2011Is the case for London hotels as clear-cut as it seems?

UK Commercial Property > UK Commercial Property Update — 08 Mar, 2011How much weight should we put on real estate equity price rally?UK Commercial Property > UK Commercial Property Update — 22 Feb, 2011What does the rise in transaction-based yields tell us?UK Commercial Property > UK Commercial Property Update — 11 Feb, 2011Are current rental value expectations too downbeat?UK Commercial Property > UK Commercial Property Update — 02 Feb, 2011CIPS/Markit Construction PMI (Jan)UK Commercial Property > UK Commercial Property Update — 27 Jan, 2011Is German retail property really Europe's best bet?UK Commercial Property > UK Commercial Property Update — 20 Jan, 2011Industrial rental values still likely to edge lower this year UK Commercial Property > UK Commercial Property Update — 19 Jan, 2011How promising is the recent fall in retail vacancy rates?UK Commercial Property > UK Commercial Property Update — 13 Jan, 2011Higher investor interest may support shopping centre returns in 2011 UK Commercial Property > UK Commercial Property Update — 10 Jan, 2011Further reasons to be cautious about pace of office rental recovery UK Commercial Property > UK Commercial Property Update — 17 Dec, 2010Lenders' leniency hinges on low inflation and interest rates

UK Commercial Property > UK Commercial Property Update — 09 Dec, 2010Retail suffering from rising vacancy amongst non-prime buildings UK Commercial Property > UK Commercial Property Update — 11 Nov, 2010Effect on average prices of falls in secondary segment may be muted UK Commercial Property > UK Commercial Property Update — 09 Nov, 2010RICS data highlight lingering office occupier market uncertainty UK Commercial Property > UK Commercial Property Update — 28 Oct, 2010Outlook for Central London office rents in 2011 now less positive UK Commercial Property > UK Commercial Property Update — 19 Oct, 2010Industrial rental values likely to fall further UK Commercial Property > UK Commercial Property Update — 12 Oct, 2010Low supply unlikely to lead to surge in shopping centre rents UK Commercial Property > UK Commercial Property Update — 05 Oct, 2010Treat negative tone of property derivatives pricing with care UK Commercial Property > UK Commercial Property Update — 27 Sep, 2010Financial services recovery continues; office rental outlook solid UK Commercial Property > UK Commercial Property Update — 23 Sep, 2010Vacant space to weigh on industrial rents for some time to come UK Commercial Property > UK Commercial Property Update — 09 Sep, 2010Effective City office rental values to continue to outperform

UK Commercial Property > UK Commercial Property Update — 12 Aug, 2010Will regional office markets follow London’s lead in 2011?UK Commercial Property > UK Commercial Property Update — 02 Aug, 2010Fading sentiment signals an end to capital value gains UK Commercial Property > UK Commercial Property Update — 21 Jul, 2010Short-term prospects for industrial rents still subdued UK Commercial Property > UK Commercial Property Update — 15 Jul, 2010Scope for fresh employment falls highlights muted rental prospects UK Commercial Property > UK Commercial Property Update — 06 Jul, 2010Income security holds up, but weak economy is a lingering threat UK Commercial Property > UK Commercial Property Update — 25 Jun, 2010Property debt still a significant risk to UK financial system UK Commercial Property > UK Commercial Property Update — 18 Jun, 2010How important are currency shifts to investment demand?UK Commercial Property > UK Commercial Property Update — 14 Jun, 2010CMBS may be less of a problem than is feared UK Commercial Property > UK Commercial Property Update — 10 Jun, 2010Retail may lag behind as investors shift to non-prime property UK Commercial Property > UK Commercial Property Update — 07 Jun, 2010Rental values set to rise next year, but recovery will be slow

UK Commercial Property > UK Commercial Property Update — 21 May, 2010“Delay and pray” continues; low interest rates crucial for outlook UK Commercial Property > UK Commercial Property Update — 14 May, 2010Is commercial property development activity about to surge?UK Commercial Property > UK Commercial Property Update — 11 May, 2010Higher pound unlikely to prompt overseas investor exodus UK Commercial Property > UK Commercial Property Update — 04 May, 2010Conflicting signals for investment demand UK Commercial Property > UK Commercial Property Update — 26 Apr, 2010Demand data-flow positive for industrial rents; supply less so UK Commercial Property > UK Commercial Property Update — 21 Apr, 2010Capital gain of 10% this year still on the cards UK Commercial Property > UK Commercial Property Update — 15 Apr, 2010Soft spending prospects to restrain leisure property UK Commercial Property > UK Commercial Property Update — 13 Apr, 2010Will Irish bank rescue plan derail commercial property recovery?UK Commercial Property > UK Commercial Property Update — 29 Mar, 2010Further support for a more optimistic office rental outlook UK Commercial Property > UK Commercial Property Update — 16 Mar, 2010Retail outperformance is narrowly based

UK Commercial Property > UK Commercial Property Update — 12 Mar, 2010Does the fall in speculative industrial development matter?UK Commercial Property > UK Commercial Property Update — 09 Mar, 2010Will the boom turn to bust ... again? The lessons from 1993/94 UK Commercial Property > UK Commercial Property Update — 04 Mar, 2010Does the property derivatives market know something we don’t?UK Commercial Property > UK Commercial Property Update — 04 Feb, 2010Recovery may now be broadening, but not to all non-prime property UK Commercial Property > UK Commercial Property Update — 27 Jan, 2010Surveyors may be too pessimistic about retail occupier prospects UK Commercial Property > UK Commercial Property Update — 22 Jan, 2010Industrial rental value prospects: too soon to upgrade the outlook UK Commercial Property > UK Commercial Property Update — 15 Jan, 2010London's City office rental prospects: first signs of recovery?UK Commercial Property > UK Commercial Property Update — 14 Jan, 2010Yield differential between Turkey and Russia to be maintained UK Commercial Property > UK Commercial Property Update — 11 Jan, 2010Prospects for financial services sector, and office rents, still subdued UK Commercial Property > UK Commercial Property Update — 08 Dec, 2009De Montfort Lending: some encouraging results, but not many

UK Commercial Property > UK Commercial Property Update — 26 Nov, 2009Further question marks over sustainability of current property rebound UK Commercial Property > UK Commercial Property Update — 13 Nov, 2009Has the shift to part-time working limited the fall in property demand?UK Commercial Property > UK Commercial Property Update — 10 Nov, 2009Why have leisure and hotels held up relatively well during downturns?UK Commercial Property > UK Commercial Property Update — 21 Oct, 2009What do property/bond yield spreads imply for rental value growth?UK Commercial Property > UK Commercial Property Update — 12 Oct, 2009Why have retail warehouse capital values risen first and fastest?UK Commercial Property > UK Commercial Property Update — 07 Oct, 2009Lenders begin to return, but outlook for lending activity still subdued UK Commercial Property > UK Commercial Property Update — 05 Oct, 2009Financial services sector improves, but office rental values to fall further UK Commercial Property > UK Commercial Property Update — 14 Sep, 2009Development activity may be at a floor, but outlook still weak UK Commercial Property > UK Commercial Property Update — 09 Sep, 2009Bank lending to property: what’s in the numbers?UK Commercial Property > UK Commercial Property Update — 28 Aug, 2009Are we underplaying signs of an occupier market recovery?

UK Commercial Property > UK Commercial Property Update — 17 Aug, 2009Investment market activity poised to rise; capital values could stabilise UK Commercial Property > UK Commercial Property Update — 07 Aug, 2009Derivative prices and funds flows: more signs of an improved outlook UK Commercial Property > UK Commercial Property Update — 22 Jul, 2009Shopping centre rental values still set to outperform shops and warehouses UK Commercial Property > UK Commercial Property Update — 13 Jul, 2009Lease Events Review doesn’t alter big picture that income is less secure UK Commercial Property > UK Commercial Property Update — 08 Jul, 2009Fewer consumer-related jobs points to further retail rental value falls UK Commercial Property > UK Commercial Property Update — 02 Jul, 2009Credit Conditions survey and PMI data don’t alter weak property outlook UK Commercial Property > UK Commercial Property Update — 01 Jul, 2009CBI/PwC financial services survey provides little comfort for offices UK Commercial Property > UK Commercial Property Update — 26 Jun, 2009Bank of England Financial Stability Report, June 2009 UK Commercial Property > UK Commercial Property Update — 18 Jun, 2009Asset protection scheme unlikely materially to boost foreclosures UK Commercial Property > UK Commercial Property Update — 09 Jun, 2009Economic forecast revisions: net effect on property is negligible

UK Commercial Property > UK Commercial Property Update — 08 Jun, 2009Corporate bonds comparison suggests property not necessarily cheap UK Commercial Property > UK Commercial Property Update — 21 May, 2009If prime yields have peaked, how much more might the average rise?UK Commercial Property > UK Commercial Property Update — 15 May, 2009De Montfort Lending Review, full-year 2008 UK Commercial Property > UK Commercial Property Update — 14 May, 2009Falls in London office development pipelines: an alternative view UK Commercial Property > UK Commercial Property Update — 06 May, 2009How significant is the upturn in commercial property sentiment?UK Commercial Property > UK Commercial Property Update — 24 Apr, 2009Does a fast start to the rental downturn imply a quicker recovery?UK Commercial Property > UK Commercial Property Update — 22 Apr, 2009Property and the 2009 Budget - disappointment dominates UK Commercial Property > UK Commercial Property Update — 16 Apr, 2009Industrial rents could fall most in Midlands and Northern England UK Commercial Property > UK Commercial Property Update — 03 Feb, 2009West End rents suffer most in 2008; the outlook is even bleaker UK Commercial Property > UK Commercial Property Update — 15 Jan, 2009December not the turning point for investment market activity

UK Commercial Property > UK Commercial Property Update — 08 Jan, 2009Another step towards zero UK Commercial Property > UK Commercial Property Update — 18 Dec, 2008De Montfort Lending Review, mid-year 2008 UK Commercial Property > UK Commercial Property Update — 18 Dec, 2008UK interest rates heading for zero UK Commercial Property > UK Commercial Property Update — 11 Dec, 2008Weaker pound will not prompt a surge in overseas investment UK Commercial Property > UK Commercial Property Update — 24 Nov, 2008Little relief for property markets in the Pre-Budget Report UK Commercial Property > UK Commercial Property Update — 28 Oct, 2008Bank of England Financial Stability Report, October 2008 UK Commercial Property > UK Commercial Property Update — 10 Jul, 2008Secondary property still set to do worse than prime UK Commercial Property > UK Commercial Property Update — 13 Jun, 2008Why have commercial property lending data remained so strong?UK Commercial Property > UK Commercial Property Update — 05 Jun, 2008De Montfort Lending Review - full year 2007 UK Commercial Property > UK Commercial Property Update — 15 May, 2008Slower rate cuts increase recession risks

UK Commercial Property > UK Commercial Property Update — 01 May, 2008Bank of England Financial Stability Report, May 2008 UK Commercial Property > UK Commercial Property Update — 23 Apr, 2008RICS survey highlights vulnerability of retail rental values to falls UK Commercial Property > UK Commercial Property Update — 22 Feb, 2008Why have real office rental values fallen over time?UK Commercial Property > UK Commercial Property Update — 17 Jan, 2008Real estate equities down 40%: will property prices follow suit?UK Commercial Property > UK Commercial Property Update — 13 Nov, 2007IPF Consensus Forecasts (November 2007)UK Commercial Property > UK Commercial Property Update — 02 Nov, 2007Commercial property correction to be over next year?UK Commercial Property > UK Commercial Property Update — 25 Oct, 2007Bank of England Financial Stability Report, October 2007 UK Commercial Property > UK Commercial Property Update — 17 Oct, 2007UK RICS Construction Survey (Q3 2007)UK Commercial Property > UK Commercial Property Update — 05 Sep, 2007Financial turmoil a risk to City rents UK Commercial Property > UK Commercial Property Update — 07 Aug, 2007Bond market fluctuations do not change outlook for property.

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