Europe Commercial Property Update UK looking increasingly attractive compared to France Newfound political stability in the UK contrasts with the now more uncertain political backdrop in France. A better relative outlook for economic growth and risk-free rates had already led to a... 18th July 2024 · 3 mins read
Global Commercial Property Chart Pack Global Commercial Property Chartpack The slower adjustment to past rises in interest rates and a sharper hit to office demand is set to weigh on US property returns over the next couple of years. Overall, the UK is set to outperform over... 3rd July 2024 · 1 min read
UK Commercial Property Update Why are residential yields so low? Higher costs, lower risk, a better rental growth outlook and competition from less yield-sensitive buyers all help explain why residential yields have been below other commercial property sectors for... 25th June 2024 · 4 mins read
UK Commercial Property Update Why we think yield compression will be limited With inflation back to target the stage is set for a decline in interest rates. Indeed, we think that the 10-year gilt yield will have dropped to 3% by end-26. But we don’t think that will lead to... 21st June 2024 · 3 mins read
Europe Commercial Property Update Political uncertainty to hit French property values Investor concerns about the upcoming snap legislative elections have pushed up French government bond yields and we think they will rise further over the rest of the year. This has worsened the... 20th June 2024 · 3 mins read
Europe Commercial Property Outlook End of the correction in sight, but outlook remains gloomy The price correction showed signs of stabilisation in early 2024, but we think further, albeit much smaller, value falls are to come as yields edge a bit higher. Values should bottom by year-end, but... 13th June 2024 · 32 mins read
US Commercial Property Valuation Monitor US Commercial Property Valuation Monitor (Q2 2024) Following the previous large quarterly increase, improvement in all-property valuations stalled in the first quarter of the year despite a rise in the 10-year Treasury yield. There was little change... 29th May 2024 · 1 min read
Europe Commercial Property Update Rising distress points to further value falls in Germany While German property yields stabilised in Q1, further indications of rising distress give us confidence in our view that property values there have not yet reached the bottom. 29th May 2024 · 3 mins read
Europe Commercial Property Chart Pack Europe Commercial Property Chart Pack (Q2 2024) Smaller property yield rises and still-solid rental growth left all-property capital values little changed in Q1, a notable improvement on the sharp falls seen since mid-2022. However, we think... 22nd May 2024 · 0 mins read
UK Commercial Property Valuation Monitor UK Commercial Property Valuation Monitor (Q1 24) A combination of a further rise in property yields and fall in alternative asset yields drove an improvement in property valuations in Q1. The more recent rise in risk-free rates implies that... 10th May 2024 · 0 mins read
Europe Commercial Property Outlook Further value falls to come, but should reach trough in H2 Further near-term yield rises will push property values lower in the coming quarters, but better valuations, falling interest rates and improving economic activity suggest a trough should be reached... 21st March 2024 · 31 mins read
UK Housing Market Outlook Fall in mortgage rates will allow market to recover A slight rise in mortgage rates since the start of the year is likely to mean house prices stall in the near term. But our forecast that Bank Rate will be cut faster than most expect, to 3.00% by the... 15th March 2024 · 18 mins read
Europe Commercial Property Update Peak in yields is near, but little scope for compression Improved valuations suggest that the price correction in prime property is almost done. However, with little scope for bond yields in continental Europe to fall from here and property-to-bond yield... 13th March 2024 · 3 mins read
US Commercial Property Valuation Monitor US Commercial Property Valuation Monitor (Q1 2024) All-property valuations saw the largest quarterly increase in over a decade in Q4, as property yields rose across all sectors and the 10-year Treasury yield saw its sharpest quarterly decline since Q1... 26th February 2024 · 1 min read
UK Commercial Property Outlook A recovery, but not much of one With property yields close to a peak and rental growth surprising on the upside, total returns will turn positive in 2024. But we doubt the fall in risk-free interest rates we expect will trigger any... 23rd February 2024 · 23 mins read
Europe Commercial Property Chart Pack Europe Commercial Property Chart Pack (Q1 2024) Our Europe Commercial Property Chart Pack has been updated with the latest data and our analysis. The property correction slowed slightly at the end of last year, but we think the fall in capital... 23rd February 2024 · 0 mins read