UK Housing Market Update RICS Residential Market Survey (Sep. 23) Surveyors reported the most widespread price falls since February 2009 in September as mortgage rates of over 5% took their toll. Looking ahead, a further slide in house prices appears inevitable. 11th October 2023 · 2 mins read
US Commercial Property Update No support from job growth for Chicago and NYC offices Office-based jobs are on course to underperform total jobs this year for the first time since 2009 and there is a growing risk this could be repeated in 2024, though that is not yet our central... 3rd October 2023 · 4 mins read
US Commercial Property Rapid Response US Metro Employment (Aug.) Total employment growth slowed slightly in August to 0.4% 3m/3m across the 30 metros we cover, once seasonally-adjusted. But office jobs in western cities have continued to decline as layoffs in the... 27th September 2023 · 2 mins read
UK Housing Market Update RICS Residential Market Survey (Aug.) Depressed activity remains consistent with falling house prices. The further deterioration of the RICS survey figures in August suggest the peak in mortgage rates seen in July are continuing to dampen... 13th September 2023 · 3 mins read
US Commercial Property Update Uncovering the factors impacting downtown recoveries Data on cell phone usage suggest that cities with a high share of professional, scientific and technical occupations and long commute times are typically associated with poorer downtown recoveries... 12th September 2023 · 3 mins read
US Commercial Property Update Denver’s poor jobs performance should be short-lived Denver’s poor jobs market performance over the last year appears to have been driven by a combination of a downsizing in Central Bank staff and layoffs in its large telecoms sector. But the former’s... 5th September 2023 · 3 mins read
US Commercial Property Rapid Response US Metro Employment (Jul.) Employment growth in July was near the average seen in 2023 thus far, at a seasonally-adjusted 0.5% 3m/3m across the 30 metros we cover. But the disappointing performance of information jobs continues... 30th August 2023 · 2 mins read
US Commercial Property Rapid Response US Metro Employment (Jun.) Seasonally-adjusted total employment growth rose by 0.6% 3m/3m on average across the 30 metros we track for the third consecutive month. But there has been clear weakness in the information sector in... 2nd August 2023 · 3 mins read
US Commercial Property Apartment Metros Outlook Clear split between weak west and strong south The latest economic and property market data support the view we’ve held since last year that there would be a growing differentiation between southern and western markets. We expect that to persist... 11th July 2023 · 7 mins read
Europe Commercial Property Update Pandemic impacts on physical office occupancy The pandemic-induced shift towards homeworking caused a sharp fall in physical office occupancy rates. They have since recovered significantly but remain below pre-pandemic levels. And while lower... 6th July 2023 · 3 mins read
US Commercial Property Rapid Response US Metro Employment (May.) Total employment growth was resilient across metros in May, recording 0.6% 3m/3m on average. That growth was led again by Boston, Las Vegas and Charlotte, with San Antonio also seeing a rise of over 1... 28th June 2023 · 2 mins read
UK Housing Market Rapid Response BoE Mortgage Lending (April 23) The renewed decline in mortgage approvals in April will have dashed hopes that the jump in March marked the start of a recovery. Moreover, with mortgage rates now on their way back up, lending is... 1st June 2023 · 2 mins read
US Commercial Property Rapid Response US Metro Employment (Apr.) Total employment growth reached a solid 0.7% 3m/3m on average in April for the second consecutive month, led by Boston, Las Vegas, Charlotte and Orlando. But for office-based jobs, the poor... 31st May 2023 · 2 mins read
UK Housing Market Update High immigration helps explain record rent rise High net immigration helps explain why rental growth accelerated to its fastest pace on record last year. Immigration won’t be as high this year, adding to the reasons to think that rental growth has... 30th May 2023 · 3 mins read
UK Housing Market Update Tight supply limits US and UK house price falls The increase in mortgage rates has been the main determinant of the size of house price falls in developed market economies. Very tight supply in the US, and to a lesser extent the UK, has also... 25th May 2023 · 4 mins read