Filtered by Subscriptions: UK Commercial Property Use setting UK Commercial Property
There can be no question that the recovery in the prime segment of the commercial property market continues apace. The evidence on the performance of near-prime and lower-quality property, however, is mixed. On balance, perhaps the best generalisation is …
4th February 2010
This report is only available as a PDF. Click to download. … CIPS/Markit construction PMI (January) …
2nd February 2010
The economy emerged from recession in Q4, but the 0.1% increase in GDP was well below expectations. We expect conditions in the labour market to deteriorate again and GDP growth to remain below trend this year. Accordingly, official interest rates are …
28th January 2010
Surveyors’ responses to last week’s RICS Commercial Property survey painted a downbeat picture of the prospects for the retail occupier market, which seems consistent with the weaker tone of today’s CBI Distributive Trades survey. However, while we think …
27th January 2010
The latest survey-based evidence from the Bank of England and the CBI shows that manufacturers and other firms in the industrial sector are increasingly optimistic about their prospects. At the margin, that can only be good for industrial rental values. …
22nd January 2010
This report is only available as a PDF. Click to download. … RICS Commercial Property Market Survey (Q4 2009) …
21st January 2010
The recent, high-profile Blackrock leasing deal has caused some to conclude that market rents for London City offices have started their recovery. For prime property that is almost certain to be the case. However, there are still reasons for caution and …
15th January 2010
We expect the differential which has opened up between initial yields in Turkey and Russia to be maintained for the next two years at least. A less severe downturn in the occupier market seems to have prevented sentiment towards commercial property in …
14th January 2010
Today’s CBI/PwC Financial Services Survey was generally weak in tone, and tended to support our forecast that rental values across the office sector as a whole will fall for much of 2010. Of course, some parts of the market will perform better than …
11th January 2010
This report is only available as a PDF. Click to download. … CIPS/Markit construction PMI (December 09) …
5th January 2010
This report is only available as a PDF. Click to download. … Property lending (Nov 09) & Credit Conditions survey (Q4 09) …
4th January 2010
This report is only available as a PDF. Click to download. … Slowly recovering economy won’t prevent rental falls in 2010 (Jan 10) …
22nd December 2009
This report is only available as a PDF. Click to download. … Institutional investment (Q3) & Financial Stability Report (H2) …
18th December 2009
This report is only available as a PDF. Click to download. … Financial and business services sector jobs (Q3 2009) …
16th December 2009
The current downturn in the commercial property rental values is not over yet. However, taking the next decade as a whole, our view is that, as has been the case historically, retail rental values will grow at the fastest average rate, perhaps 3%y/y in …
14th December 2009
Although the media coverage of last week’s De Montfort University study of commercial property lending over the first half of 2009 was relatively negative in tone, there were some more positive results worth highlighting. That said, we have not changed …
8th December 2009
This report is only available as a PDF. Click to download. … CIPS/Markit construction PMI (November) …
2nd December 2009
This report is only available as a PDF. Click to download. … Mergers and acquisitions activity (Q3 09) …
1st December 2009
This report is only available as a PDF. Click to download. … Colliers CRE/EG Capital Survey (Q4) & property lending (Oct.) …
30th November 2009
This report is only available as a PDF. Click to download. … IPF Consensus Forecasts, Q4 2009 …
27th November 2009
This report is only available as a PDF. Click to download. … Weak occupier market still likely to limit duration of rebound (Dec 09) …
Markets have continued to respond reasonably positively to the further signs of recovery in the global and UK economies. But concerns are starting to emerge that central banks may leave policy conditions too loose for too long, encouraging the build up of …
26th November 2009
Yesterday’s BPF/IPD Annual Lease Review for 2009 showed that leases continue to get shorter and break clauses more common, implying a higher risk of voids for landlords. Although commercial property’s current sharp recovery suggests that investors may be …
This report is only available as a PDF. Click to download. … CBI/GVA Grimley Corporate Real Estate Survey, 2009H2 …
19th November 2009
Economic prospects have improved since the previous Analyst, but not sufficiently to warrant a material change to our commercial property forecasts. As a result, over the period 2010-13, we still expect all-property total returns to average 8% to 9% per …
17th November 2009
Part-time working has become more common during this recession, and may have helped commercial property demand to hold up better than it would have done in a scenario where firms were simply laying-off staff. However, we think that overall employment …
13th November 2009
As they did in the early 1990s, the leisure and hotel sectors experienced smaller-than-average capital value falls during the most recent downturn. The weight of evidence is that these two niche sectors outperformed in the early 1990s because they entered …
10th November 2009
This report is only available as a PDF. Click to download. … RICS Construction Survey, 2009Q3 …
6th November 2009
This report is only available as a PDF. Click to download. … CIPS/Markit construction PMI (October) …
3rd November 2009
This report is only available as a PDF. Click to download. … Lending to commercial property (2009Q3) …
29th October 2009
This report is only available as a PDF. Click to download. … Recovery set to continue, though pace may fade in 2010 (Nov 09) …
With 10-year bond yields averaging 3.65% over the past month and all-property initial yields at 7.7%, investors seem to be pricing property on the assumption that rental values in 10 years’ time will be virtually unchanged from today’s levels. While past …
21st October 2009
IPD all-property capital values rose by 0.2% in August, ending a 25-month unbroken run of falls. Retail warehouse capital values, however, troughed in June and have since risen by 1.4% from their floor. Although such differences are small, they do fit …
12th October 2009
Yesterday’s papers gave considerable coverage to recent Savills research reporting a sharp rise in the number of lenders willing to lend against UK commercial property. Clearly, this adds to the case for expecting a short-term rally in the market. But the …
7th October 2009
Although today’s CBI/PwC Financial Services Survey showed a further recovery in financial sector confidence, we doubt that this signals an imminent end to the downturn in office rental values. Indeed, a composite indicator that we have constructed from …
5th October 2009
This report is only available as a PDF. Click to download. … CIPS/Markit construction PMI (September) …
2nd October 2009
This report is only available as a PDF. Click to download. … BoE Credit Conditions Survey (2009Q3) …
1st October 2009
This report is only available as a PDF. Click to download. … Capital values up in August; returns set to continue to improve (Oct …
29th September 2009
The sharp rebound in investor sentiment and the sheer weight of equity poised to (re-)enter the market make it plausible that commercial property total returns could hit 15% next year. … Total returns in 2010: how good could they …
28th September 2009
This report is only available as a PDF. Click to download. … Institutional investment in property (2009Q2) …
25th September 2009
This report is only available as a PDF. Click to download. … Financial & business services employment (2009Q2) …
16th September 2009
Construction orders for new commercial property have fallen sharply during the recession. However, with the economy showing some signs of improvement, they may now have reached a floor. At the same time, though, our economic forecasts also suggest that …
14th September 2009
The maintenance of historically low levels of short-dated bond yields alongside the strong rally in the equity market has prompted much talk of a “bond-equity conundrum”, in which the two markets appear to be anticipating vastly different outcomes for the …
11th September 2009
The Bank of England (BoE) recently switched from publishing quarterly commercial property lending data to releasing them monthly. Given that these data generate an above-average number of client queries, we have taken the opportunity in this Update to …
9th September 2009
This report is only available as a PDF. Click to download. … IPF Consensus Forecasts, 2009Q3 …
4th September 2009
This report is only available as a PDF. Click to download. … CIPS/Markit construction PMI (August) …
2nd September 2009
This report is only available as a PDF. Click to download. … Mergers and acquisitions (Q2) & property lending (July) …
1st September 2009
As well as evidence of improving investor sentiment, there have also recently been signs that occupier demand may be firming. Even so, there are good reasons to believe that the peak-to-trough decline in IPD rental values is less than halfway through and …
28th August 2009
This report is only available as a PDF. Click to download. … Investment market begins recovery, but rental values to fall further (Sep …
26th August 2009
Evidence that a revival is underway in the commercial property investment market continues to build. Given that and the upward revisions to our economic growth forecasts for 2010, we have increased our near-term commercial property forecasts. We now …
20th August 2009
