UK Commercial Property

IHS Markit/CIPS Construction PMI (Aug.)

The further easing in the construction PMI in August was due to materials shortages rather than any softening in demand.

In view of the wider interest, we are also sending this UK Commercial Property Data Response to clients of our UK Housing Service.

Andrew Wishart Property Economist
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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 Update

Are flexible offices making a comeback?

Over the last two years, serviced offices have seen more upheaval than most other real estate sectors. But there have been some encouraging signs over recent quarters and long-term trends may have moved in their favour, though we don’t expect improved fortunes for flex space will be enough to change the outlook for offices as a whole.

25 November 2021

More from Andrew Wishart

UK Housing Market Update

End of policy support doesn’t pose much risk

While the furlough scheme was critical in preventing the COVID-19 recession from dragging down house prices, we don’t think that the withdrawal of the scheme poses much of a risk. Meanwhile, the latest data show the end of the repossessions ban and mortgage payment holidays have not brought an upturn in homeowner distress.

2 September 2021

UK Housing Market Data Response

Nationwide House Prices (Aug.)

The unexpectedly large rise in house prices in August is yet another reason to think that house price growth will shrug off the end of the stamp duty holiday. It also suggests our forecast that house prices will rise by 7% this year is too pessimistic. We now expect house price growth to be closer to 9% in Q4. Note: We’ll be discussing the five-year outlook for Europe’s residential market in a Thursday Drop-In. Registration details here.

1 September 2021

UK Housing Market Data Response

Mortgage Lending (Jul.)

Mortgage approvals continued to fall back in July as the stamp duty holiday was tapered, but they remained above pre-COVID-19 levels. Timely indicators suggest that demand will be resilient even when the tax break ends altogether in October, although a lack of stock for sale could constrain sales volumes.

31 August 2021
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