US Commercial Property Data Response

Commercial Property Lending (Aug.)

CRE lending saw an even stronger rise in August than in July, with multifamily and other commercial sectors both seeing a large increase in outstanding debt. But there are signs that the rate of...

12th September 2022 · 2 mins read

Europe Commercial Property Update

Renewed weakness ahead for German retail

The rapidly worsening economic backdrop has put the brakes on Germany’s prime retail recovery. After showing strength in the second half of last year, take-up has now slowed in most of the main...

9th September 2022 · 3 mins read

US Commercial Property Chart Book

Property yields set to rise in H2

As the economy slowed in Q2 and interest rates rose, investors appear to have become less willing to compete property yields lower and investment volumes look close to turning. While occupier demand...

22nd August 2022 · 10 mins read

Canada Economics Update

Housing Watch (Aug.)

Home sales fell further below the pre-pandemic norm in July and pre-construction sales seem to have fallen through the floor, but there is no evidence yet that this is weighing on construction.

17th August 2022 · 4 mins read

US Housing Market Data Response

Housing Starts (Jul.)

Single-family housing starts fell for the fifth consecutive month in July, leaving them down by 25% from their high at the end of 2021. Leading indicators point to a much larger decline in the coming...

16th August 2022 · 2 mins read

UK Housing

Build to Rent will continue to thrive

The latest figures suggest that Build to Rent (BTR) investment has continued to expand rapidly. Despite this trend, which predates COVID-19, the sector remains under-developed by international...

16th August 2022 · 3 mins read

US Commercial Property Data Response

Commercial Property Lending (Jul.)

CRE lending was again exceptionally strong in July, outpacing even the gains seen in recent months. But with investment transaction totals softening in Q2 and our expectation of a further slowdown in...

15th August 2022 · 2 mins read

Europe Commercial Property Update

Dublin office rebound to run out of steam

Rents in the Dublin prime office market rose rapidly in H1 2022, supported by a continued recovery in occupier demand. However, a cooling jobs market and strong supply pipeline mean that a slowdown is...

15th August 2022 · 3 mins read

US Housing Market Outlook

Stretched affordability to hit sales and prices

Despite a reduction in our mortgage rate forecast, affordability is still set to be as stretched as it was during the mid-2000s housing boom. Alongside record-low homebuyer sentiment and a slowing...

12th August 2022 · 18 mins read

UK Housing Market Outlook

Prices to fall and activity to slump

Tight supply has supported house prices so far, but they now appear to be stalling. Demand will only deteriorate further over the coming quarters as rising mortgage rates, high inflation, and the...

12th August 2022 · 23 mins read

Long Run Returns Monitor

Long Run Returns Monitor (Q3)

Our Long Run Returns Monitor provides our updated long-term projected returns for major asset classes, as well as a summary of the macroeconomic forecasts which underpin them. All projections in this...

12th August 2022 · 1 min read

US Economics

More good news on inflation coming soon

The drop back in CPI inflation in July wasn’t enough alone to convince Fed officials to change their plans for interest rate hikes. But we expect the better news on inflation to continue over the...

12th August 2022 · 8 mins read

US Commercial Property Update

Global trends point to a more difficult decade ahead

Commercial property wasn’t initially hit by the worsening in economic conditions at the turn of the year, but there are now growing signs of anxiety. Not only that, but even if the economic gloom is...

12th August 2022 · 3 mins read

UK Commercial Property Valuation Monitor

Valuations worsen further, but may be bottoming out

Commercial property valuations worsened for the sixth quarter in a row in Q2, and for all-property is now the most overvalued since late 2007. But since the end of June gilt yields have edged back and...

11th August 2022 · 6 mins read

UK Housing Market Data Response

RICS Residential Market Survey (Jul.)

The RICS survey showed that weaker demand has not yet fed through to falls in prices, but sales volumes are beginning to wilt. We think it is just a matter of time before prices follow activity lower.

11th August 2022 · 2 mins read