US Housing Market Outlook

US Housing Outlook: No clear path to housing recovery

Activity in the housing market has been struck in a slump since 2023, with still no end in sight. As Trump’s immigration and trade policies push up inflation this year, the Fed will be forced to keep...

10th July 2025 · 12 mins read

Global Commercial Property Update

APAC property to underperform globally

Poor performance in the US and APAC property markets is set to drag on the global recovery over the next few years. While strong economic fundamentals argue for a material improvement in total returns...

10th July 2025 · 3 mins read

US Commercial Property Office Metros Outlook

US Office Metros Outlook: Miami set to be the big winner

Office values have further to fall in all metros this year, but from 2026 we are expecting a recovery, with the southern markets showing the way. Led by Miami, those metros will see strong rent growth...

10th July 2025 · 7 mins read

UK Housing Market Update

UK RICS Residential Market Survey (Jun. 2025)

While June’s RICS survey suggests most of the recent weakness in the housing market was due to the temporary influence of the change in stamp duty, it doesn’t yet point to a marked recovery in demand...

10th July 2025 · 3 mins read

APAC Commercial Property Chart Pack

APAC Commercial Property Chart Pack (Q2 2025)

All-property Asia-Pacific capital values fell at a slower rate of 3.4% y/y in Q1, driven by smaller declines in Australia and Hong Kong. But looking ahead, we expect the upturn in both investment...

9th July 2025 · 0 mins read

Europe Commercial Property Update

Portuguese retail to lead the euro-zone

We anticipate further yield falls for prime Portugal retail assets over the rest of the year. And with robust economic fundamentals and a solid rental outlook we forecast Portugal to be one of the...

9th July 2025 · 3 mins read

US Housing Market Rapid Response

US Mortgage Applications (June 2025)

The rise in purchase mortgage applications in June supports our view that transactions will pick up in the second half of the year, even if they remain depressed by historical standards.

9th July 2025 · 1 min read

Event

Asia Drop-In: Hong Kong commercial property – How much more pain ahead?

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One of the most striking calls in our new Asia-Pacific commercial property coverage is the scale of the downturn we still expect for Hong Kong, with all-property capital values set to fall by more

US Commercial Property Apartment Metros Outlook

US Apartment Metros Outlook: Houston apartment market set for lift-off

The size and speed of the apartment market recovery will vary widely across the 17 metros we cover over our five-year forecast. Southern markets are generally set to outperform, backed by strong...

8th July 2025 · 7 mins read

UK Housing Market Update

Slower UK house price growth in 2025, bigger rebound in 2026

The continued weakness in the housing market over the first six months of this year and the cracking labour market means we now expect the recovery in house prices to start later and be slower. But...

8th July 2025 · 3 mins read

UK Housing Market Rapid Response

UK Halifax House Prices (Jun. 2025)

The stagnation in the Halifax house price index in June suggests that the housing market remains slow to recover from both the rise in stamp duty on 1st April and the weak economy. While there are...

7th July 2025 · 2 mins read

UK Commercial Property Rapid Response

S&P Global/ CIPS UK Construction PMI (Jun. 25)

The headline CIPS construction PMI rose for the fourth consecutive month in June to 48.8, a six-month high.

4th July 2025 · 1 min read

UK Housing Market Chart Pack

UK Housing Market Chart Pack (Jul. 2025)

The big 0.8% m/m fall in Nationwide house prices in June suggests that the housing market is still struggling to recover from both the stamp duty-induced lull and the weak economy. While some leading...

3rd July 2025 · 1 min read

Europe Economics Update

Spanish house prices will continue to climb

High income growth and immigration are likely to continue to drive increases in house prices in Spain over the coming years. Demand will be further boosted by the recent fall in mortgage interest...

3rd July 2025 · 4 mins read

Australia & New Zealand Economics Update

Stretched affordability will limit housing rebound

The fact that the RBA isn’t cutting interest rates during a housing downturn won’t limit the rebound in house prices, but the extremely stretched level of affordability will do so. Even though we...

3rd July 2025 · 3 mins read