Property investment is weaker than meets the eye

Real estate investment has recently returned to double digit growth. But a closer look at the data reveals that this recovery has been entirely driven by a jump in developers’ land purchases, which is unlikely to be sustained. In contrast, developers’ capital spending on construction recently started contracting again for the first time since 2015.

Subscriber content

Read this in full, free

Start a free trial and use one of your 10 free starter credits to unlock this piece.


Free. 10 articles. No card required.
By completing this form you are agreeing to our Terms and Conditions for the provision of a free trial of Capital Economics' services. We take your privacy seriously and will not share your details with others without your consent. By providing your details, including your email address, you are consenting to Capital Economics sending you macroeconomic commentary and analysis. You can unsubscribe at any time. See our Privacy Policy for more information.

Already a client or trialist? Log in to read this.