UK Commercial Property Chart Pack Total returns stabilise, but too soon to call bottom All-property yields have stabilised since the start of the year and alongside continued rental growth, that means total returns were more-or-less flat during Q1. But, while the worst is over, the... 28th April 2023 · 8 mins read
UK Housing Market Update Takeaways from our housing roundtables Alongside the publication of our Q2 UK Housing Outlook this week, we held a series of roundtable meetings for clients in London. Here we sum up our thoughts on three key questions which recurred... 28th April 2023 · 4 mins read
US Commercial Property Data Response RICS Commercial Market Survey (Q1) The RICS Q1 survey indicated confidence fell further in the opening months of the year but remains substantially above the lows seen during the height of the pandemic. However, we expect sentiment to... 27th April 2023 · 3 mins read
Europe Commercial Property Update Strong supply to drag on Spanish industrial rents Industrial occupier demand in Spain is set to slow sharply this year and next, as the economy falls into recession. And with both Madrid and Barcelona poised to see a record level of speculative... 25th April 2023 · 3 mins read
UK Commercial Property Update Early yield correction gives retail an advantage A fall in consumption this year will weigh on the retail sector, but an earlier correction in yields and rents mean it is less vulnerable to the recession. Indeed, it was the only sector to see a fall... 24th April 2023 · 3 mins read
Europe Commercial Property Update Structural weaknesses weigh on Warsaw office rents After a strong 2022, we expect Warsaw offices to face a more difficult time ahead. Falling employment and hybrid working practices will limit any revival in demand after 2023 and leave rents... 14th April 2023 · 3 mins read
UK Commercial Property Update Leisure sector to suffer as savings are exhausted Despite the cost-of-living crisis, the leisure sector did better than expected last year as households used the savings they had built up during the pandemic to boost spending on recreation and... 13th April 2023 · 3 mins read
UK Commercial Property Chart Pack Yields stabilise, but banking crisis may slow recovery Yields have stabilised since the start of the year, with the 8bps rise in equivalent yields over January and February much smaller than the 64bps increase over the final two months of 2022. And with... 30th March 2023 · 8 mins read
UK Commercial Property Update Rental growth resilience won’t last Even as the economy has slowed nominal all-property rental growth has held up relatively well. But that largely reflects the impact of high inflation, which is now falling. In any event, underlying... 15th March 2023 · 3 mins read
UK Commercial Property Update Industrial pipeline not a major risk A record amount of industrial space is currently under construction, which looks poorly timed given the upcoming recession. However, the sector is entering the downturn in a strong position with very... 8th March 2023 · 4 mins read
Middle East & North Africa Economics Weekly Dubai GRE debts, Tunisia’s IMF deal, Saudi real estate Dubai’s economic backdrop has improved markedly in the past year or so and has provided government-related entities with room to breathe in the face of large debt repayments this year, including a $5... 16th February 2023 · 6 mins read
UK Housing Market Chart Pack Few signs of market bottoming out The survey data suggest that the modest decline in mortgage rates since October falls a long way short of what would be required for house prices to bottom out. The fall in market interest rates since... 16th February 2023 · 10 mins read
US Commercial Property Update Growing signs affordability will constrain rental demand We expect stretched affordability and rising unemployment to lead to an increase in rental arrears and evictions in the coming quarters, causing rental household formation to turn negative and... 9th February 2023 · 3 mins read
UK Commercial Property Chart Pack Capital value falls to ease in 2023 Yields have continued to surprise on the upside, with the all-property equivalent yield rising by 106bps in the three months to December. That matches the worst months of the GFC, and even though... 27th January 2023 · 8 mins read
US Commercial Property Data Response RICS Commercial Market Survey (Q4) The latest RICS Survey conveyed a further decline in confidence following a turning point in the previous quarter. Comments from surveyors point to high interest rates as the main concern, and we... 26th January 2023 · 2 mins read
US Commercial Property Update Six key calls for US commercial real estate in 2023 Our key calls for 2023 highlight major shifts in the outlook for real estate. We expect all-property total returns to be negative for the first time since 2009. At a sector level, we expect retail to... 6th January 2023 · 4 mins read