US Commercial Property Update Amazon expansion unlikely to bring turnaround for industrial Demand from Amazon has been a key driver of industrial fortunes over recent years, so the announcement of a new $15bn injection in the US was greeted warmly by market watchers. But, while this should... 30th April 2025 · 3 mins read
UK Housing Market Rapid Response UK Nationwide House Prices (Apr. 2025) April’s bigger-than-expected 0.6% m/m fall in Nationwide house prices (consensus forecast 0.0% m/m, Capital Economics -0.1% m/m) isn’t too surprising as most of it probably reflects home purchases... 30th April 2025 · 3 mins read
China Chart Pack China Chart Pack (Apr. 25) US tariffs will start to weigh on China’s export growth soon. Domestic headwinds are also set to persist. A significant loosening of fiscal policy will help support the economy, but it won’t be enough... 29th April 2025 · 0 mins read
US Housing Market Update The implications of lumber tariffs While higher lumber tariffs will not significantly impact GDP growth in the US or Canada, they will drive up costs for US homebuilders. As affordability is already stretched, it is unlikely that... 29th April 2025 · 5 mins read
Europe Commercial Property Update Swedish industrial real estate prospects remain poor Stockholm was one of the worst performing industrial markets in western Europe last year. And despite our relatively upbeat outlook for the Swedish economy, we think the coming years will herald more... 29th April 2025 · 3 mins read
US Housing Market Rapid Response US Case-Shiller/FHFA House Prices (Feb. 2025) February’s 0.4% m/m rise in house prices is still a bit stronger than the timely leading indicators - like rising months’ supply and longer average time on market - would suggest. However, along with... 29th April 2025 · 2 mins read
UK Commercial Property Update Could UK commercial property benefit from US tariffs? The UK economy is relatively well insulated from the rise in US tariffs, and property even more so. Indeed, while the overall direct impact is likely to be small, some commercial sectors may even see... 29th April 2025 · 4 mins read
US Commercial Property Update NCREIF Q1 Index shows US commercial property values now rising, but valuation gaps persist The NCREIF Property Index (NPI) recorded a third consecutive quarter of positive total returns in Q1 2025, driven primarily by income. Although capital value growth turned positive, questions remain... 28th April 2025 · 2 mins read
Japan Economics Update Is Japan’s rent inflation about to take off? Our base case is that faster growth in household incomes will result in the recent pick-up in rent inflation broadening from major cities to the rest of the country. However, there’s a risk that... 28th April 2025 · 3 mins read
UK Commercial Property Update RICS survey points to a subdued UK commercial property recovery The Q1 RICS survey showed little change from the previous quarter, with surveyors pointing to subdued levels of occupier demand and elevated availability. That points to a slowdown in rental growth... 25th April 2025 · 3 mins read
US Commercial Property Update Q1 RICS survey shows resilient US CRE sentiment, but downside risks ahead The Q1 RICS US commercial property survey reported steady investment sentiment. That is in line with our belief that the market is headed for an upturn, although the impact of new tariffs and the... 25th April 2025 · 3 mins read
Middle East & North Africa Economics Weekly MENA Weekly: Egypt’s new budget, Saudi fiscal tightening & real estate Egypt’s draft FY2025/26 Budget reaffirmed the government’s commitment to fiscal austerity which should put the public debt-to-GDP ratio on a downwards path. Elsewhere, Saudi Arabia’s government... 24th April 2025 · 7 mins read
US Housing Market Rapid Response US Existing Home Sales (Mar. 2025) The fall in existing home sales in March serves as a good reminder that more home listings alone are not enough to revive the market. Affordability also has to meaningfully improve which, based on our... 24th April 2025 · 2 mins read
Europe Commercial Property Update Q1 RICS survey highlights weak momentum in European CRE The RICS survey showed that the recovery in occupier and investor demand remained muted in Q1 and uncertainty about tariffs means this picture is unlikely to change in the near term. 24th April 2025 · 3 mins read
Australia & New Zealand Chart Pack ANZ Chart Pack (Apr. 2025) Our ANZ Chart Pack has been updated with the latest data and our analysis of recent developments. At first glance, Australia and New Zealand should be fairly insulated from the brunt of the US’s... 24th April 2025 · 1 min read
US Housing Market Rapid Response US New Home Sales (Mar. 2025) Lower mortgage rates drove a sharp rise in new home sales in March, showing that the market still has solid momentum despite inventory creeping up in the resale segment. However, with mortgage rates... 23rd April 2025 · 2 mins read