My subscription
My Subscription All Publications

IHS Markit/CIPS Construction PMI (Dec.)

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.
Pieter Du Preez Property Economist
Continue reading

More from UK Housing

UK Housing Market Update

Rental growth approaching a peak

Record high rental growth at the start of the year is likely to mark a peak given signs that tenant demand is starting to ease. But strong wage growth and the rising cost of buying as mortgage rates rise mean rental growth is set to ease rather than collapse. Property Drop-In (19th May): What will rising interest rates mean for commercial property returns in the US, UK and Europe? Join our 20-minute briefing on the outlook for returns today at 10:00 ET/15:00 BST. Register now.

19 May 2022

UK Housing Market Outlook

House prices heading for a fall

If we are right that the Bank of England will have to raise interest rates to 3.00% to stamp out inflation then we are on the cusp of the fastest increase in mortgage rates since the late 1980s. That caused house prices to fall by 20%. But the tight labour market, lower loan-to-value ratios, and a lower peak in interest rates mean the drop in prices should be less dramatic this time. We expect house prices to fall by 5% over the next two years, reversing a fifth of the increase since the pandemic began.

13 May 2022

UK Housing Market Data Response

RICS Residential Market Survey (Apr.)

The housing market shrugged off the effects of rising mortgage rates and the cost-of-living crisis in April as intense competition between buyers bid up prices further. However, with mortgage rates set to increase sharply over the rest of the year, the days of the pandemic house price boom are now numbered.  

12 May 2022

More from Pieter Du Preez

UK Commercial Property Data Response

Lending to commercial property (Nov.)

Declines in lending for both standing property and new developments resulted in total net lending moving back into negative territory in November. The outlook is for credit conditions to remain tight in the coming months, as uncertainty clouds the economic recovery.

4 January 2022

UK Commercial Property Update

Hotel occupancy will continue to struggle in 2022

International travel restrictions and domestic containment measures have dealt the hotel sector a massive blow over the last two years. The outlook for the sector is more positive, but a slow relaxation of restrictions, tourist hesitancy and reduced business travel mean that it is unlikely that the sector will recover fully in 2022.

22 December 2021

UK Commercial Property Update

Investment expected to edge higher in 2022

Investment activity has bounced back sharply after the initial COVID-19 shock and is on track to hit a three-year high in 2021. But we expect more modest growth in 2022 as softer economic activity and structural factors in some sectors weigh on transactions. Note: Central Bank Drop-In – The Fed, ECB and BoE are just some of the key central bank decisions expected in this packed week of meetings. Neil Shearing and a special panel of our chief economists will sift through the outcomes on Thursday, 16th December at 11:00 ET/16:00 GMT and discuss the monetary policy outlook for 2022.

15 December 2021
↑ Back to top