Credit Conditions Survey (Q2 2021)

A further easing of concerns about the outlook for property prices and the economy suggests that mortgage lending conditions will continue to improve. That will help ensure that house prices are resilient to the end of the stamp duty holiday.
Prohad Khan Property Economist
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The construction PMI declined last month to end the year on a negative note, more than erasing the gain made in November. Despite tentative signs that they are starting to ease, we expect labour and supply shortages will continue to dampen output in the near term.

7 January 2022

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Halifax House Prices (Dec.)

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UK Commercial Property Update

South East office rents still have further to fall

Although we expect the economic outlook will continue to improve, we think that South East office rents will still edge lower this year. What’s more, we don’t expect much of a rebound in 2022, as a shift to remote working will continue to weigh on demand.

7 July 2021

UK Commercial Property Data Response

Lending to commercial property (May.)

After falling sharply in April, net lending rose in May. We think this can be explained by the extension of payment holidays rather than an increase in new loans. Further ahead, we expect a weak recovery in investment activity and, as the economic recovery gathers pace, we think banks will be less willing to grant further forbearance, so net lending will turn negative again.

29 June 2021

UK Commercial Property Update

Weak starts to limit construction after 2021

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24 June 2021
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