US Commercial Property Update

Why even the worst-hit cities look likely to recover

The pandemic-driven reduction in office-based footfall in city centres has weighed heavily on many urban environments, particularly in the US. But if cities can find ways to align incentives with...

22nd April 2025 · 8 mins read

US Housing Market Rapid Response

US Housing Starts (Mar. 2025)

The sharp fall in housing starts in March is less concerning than it seems at first glance, partly reflecting a normalisation in homebuilding after February’s weather-driven surge, rather than a...

17th April 2025 · 2 mins read

Global Commercial Property Chart Pack

Global Commercial Property Chartpack (Q1 2025)

Aside from some industrial assets, commercial property is not directly impacted by higher tariffs. However, uncertainty and the likelihood that economic growth slows will likely hold back investment...

17th April 2025 · 0 mins read

Europe Commercial Property Update

Is German retail making a comeback?

German retail performance has been among the worst in the euro-zone for most of the last decade. A combination of declining vacancy, better affordability and reduced online leakage point to a relative...

16th April 2025 · 4 mins read

Canada Economics Update

Canada Housing Watch (Apr. 25)

The housing market took another leg down in March, with the larger decline in single-family home prices suggesting that owner-occupiers rather than investors are behind the most recent weakness...

15th April 2025 · 4 mins read

UK Housing Market Update

UK rents growth to stay above pre-pandemic rates

While the big easing in market rents inflation over the past few years suggests falls in all-tenancy rents inflation are in the offing, both measures of rents inflation will probably stay above pre...

15th April 2025 · 4 mins read

Europe Commercial Property Update

Trump tariffs to drag on German industrial leasing

Trump’s tariffs have darkened the outlook for industrial demand across Europe, but Germany looks more exposed than most. Even if the paused 20% reciprocal tariff on EU imports is not reinstated, the...

10th April 2025 · 4 mins read

UK Housing Market Update

UK RICS Residential Market Survey (Mar. 2025)

March’s RICS survey suggests both the weak domestic economy and the headwinds from the global tariff storm continue to increase the downside risks to our 2025 forecasts for housing demand and prices...

10th April 2025 · 3 mins read

Canada Chart Pack

Canada Chart Pack (Apr. 2025)

While Canada escaped “liberation day” relatively unscathed, the imposition of US tariffs and risk of more to come will still weigh on exports, consumer confidence and investment. With immigration also...

9th April 2025 · 1 min read

US Commercial Property Update

Midwest outperformance will not last

More encouraging figures from the previously underperforming Midwest region suggest that it may be turning a corner. But while this may continue for several quarters more, there has not been enough...

9th April 2025 · 3 mins read

UK Commercial Property Update

Market chaos puts upward pressure on UK commercial property yields

With the exception of some industrial assets, commercial property in the UK is not directly impacted by the higher tariffs announced by President Trump and property equities have performed relatively...

9th April 2025 · 4 mins read

UK Commercial Property Update

Answering key client questions from our roundtables on how the pandemic continues to shape real estate

Last week we held a series of roundtable discussions with clients in our London office about how the pandemic will shape real estate into the 2030s. This note shares our answers to some of the most...

8th April 2025 · 4 mins read

US Commercial Property Apartment Metros Outlook

Houston best-placed for 2025-29 apartments recovery

The apartment market is on track to recover over our five-year forecast, with new supply falling back sharply, while demand remains solid. However, the size and speed of recovery will differ widely by...

7th April 2025 · 7 mins read

UK Housing Market Rapid Response

UK Halifax House Prices (Mar. 2025)

The 0.5% m/m fall in Halifax house prices in March provides further evidence that the boost from buyers rushing to complete home purchases before the rise in stamp duty on 1 st April had already run...

7th April 2025 · 3 mins read

UK Commercial Property Rapid Response

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

The headline CIPS construction PMI saw a small rise in March to 46.4, from 44.6 in February. But that still left the balance below 50 and consistent with a contracting construction sector.

4th April 2025 · 1 min read