UK Commercial Property
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UK Commercial Property

UK Commercial Property Data Response

UK Commercial Property Data Response

Lending to commercial property (Oct.)

A drop in repayments and rise in development activity resulted in positive net lending in October for the first time since March. Despite this turnaround, credit conditions will remain tight and uncertainty about the recovery will continue to weigh on lending in the near term.

29 November 2021

UK Commercial Property Data Response

IPF Consensus Forecasts (Nov.)

The resilience of the commercial property market has led to further upgrades to the IPF Consensus view for this year, albeit still below our forecast. Beyond this year, we are more downbeat about the outlook than the consensus given our expectation that work-from-home will have a more lasting impact on offices.

26 November 2021

UK Commercial Property Data Response

RICS Construction Market Survey (Q3)

The latest RICS survey indicated that construction activity remained robust in Q3, while the outlook for the near term is favourable. Although we agree, we expect that building material and labour shortages, along with concerns about commercial values, will weigh on activity over the next 6 months or so.

4 November 2021
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UK Commercial Property Data Response

IHS Markit/CIPS Construction PMI (Oct.)

Construction firms reported that activity strengthened in October despite higher costs and continued difficulty sourcing materials. The big picture is that until those constraints ease construction output will continue to languish.

UK Commercial Property Data Response

Lending to commercial property (Sep.)

Net lending to UK commercial property was negative for the fourth month in a row in September, probably due to a rise in repayments. We expect further repayments, caution when seeking development opportunities and tight credit conditions to weigh on net lending in the coming months.

29 October 2021

UK Commercial Property Data Response

RICS Commercial Property Market Survey (Q3)

Surveyors reported a continued improvement in occupier demand and investment enquiries in Q3, and notably the net balance for offices turned positive on both measures. That said, surveyors expect office and retail values to fall over the next year, while the industrial sector looks set to deliver strong growth.

UK Commercial Property Data Response

Credit Conditions Survey (Q3 2021)

An ongoing improvement in credit availability may offset the increase in Bank Rate we expect in 2022. That offers support to our forecast that mortgage rates will remain low.

14 October 2021

UK Commercial Property Data Response

IHS Markit/CIPS Construction PMI (Sep.)

The further drop in the construction PMI in September suggested that the recovery in construction has faltered amid a severe lack of materials and staff, spiralling costs, and softening demand.

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