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IHS Markit/CIPS Construction PMI (Jun.)

Despite a further deterioration in the availability of building materials, construction output rose at the fastest pace since 1997 in June. That suggests output in the sector is now well above pre-virus levels.
Andrew Wishart Property Economist
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More from UK Commercial Property

UK Commercial Property Update

Student accommodation rent growth to stay solid

Student enrolment remained robust during the last couple of years and is likely to continue growing strongly over the next decade. But supply of purpose-built beds has grown less rapidly and the pipeline points to a continued lag against demand. This demand-supply imbalance will likely support solid rent growth over the coming years.

24 June 2022

UK Commercial Property Chart Book

Signs of a slowdown emerging

Annual all-property rental growth reached a five-year high in May, while returns rose to levels last seen in mid-1994. But signs of a slowdown also emerged, especially in the red-hot industrial sector, where capital value growth and total returns eased for the first time in almost two years. In addition, the recovery in retail and offices lost some steam, with monthly rental growth rates nudging lower. We expect the pace of growth will let up soon as yields start to stabilise and structural changes weigh on occupier demand. As such, we expect returns to cool to below 10% by end-2022.

22 June 2022

UK Commercial Property Update

Will Manchester office rental growth outperform again?

After a more severe downturn in 2020, Manchester office rental growth has caught up with other regional cities in recent quarters. While employment growth and occupier activity may remain fairly weak, tight new supply dynamics should see Manchester office rents rising broadly in line with the average of other regional offices over the short term.

17 June 2022

More from Andrew Wishart

UK Housing Market Chart Book

Demand shifts towards outer London

London house prices have underperformed the national average over the past year as the pandemic has led to a shift in demand away from inner cities. Arguably London was due a period of weaker price growth even before the pandemic hit, following the outperformance of the capital in the 2010s. That said, price falls have been focused in the most central boroughs, while the best performing outer boroughs have seen price rises akin to the national average.

2 July 2021

UK Housing Market Data Response

Mortgage Lending (May)

The tick up in mortgage approvals for house purchase in May left them 33% above pre-virus norms, and timely indicators suggest that mortgage lending will remain robust despite the looming end of the stamp duty holiday.

Does the end of the holiday mean end of the boom? (1200 BST today, Tuesday 29th June): Join Chief Property Economist Andrew Burrell and Andrew Wishart, the head of our UK Housing Service, for this 20 minute Drop-In session. Register here.

29 June 2021

UK Housing Market Data Response

Nationwide House Prices (Jun.)

House prices recorded a fifth consecutive monthly rise in June, the final month before the stamp duty threshold begins to return to its usual level. There are few signs of market dynamics changing dramatically as a result, so we expect a moderation in house price inflation rather than a collapse.

29 June 2021
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