Europe Commercial Property Update Risk of stronger French industrial rental growth ahead We expect steady French industrial rental growth over the next few years on the back of a solid economic backdrop and more online shopping. That said, if construction costs and land constraints become... 25th October 2021 · 3 mins read
UK Commercial Property Chart Pack Rental recovery gathers momentum September was another good month for commercial property, with the first year-on-year rental growth recorded since the onset of COVID-19. But as clouds gather over the economic upturn, we suspect that... 22nd October 2021 · 7 mins read
US Commercial Property Focus How pandemic changes will affect US metros Americans are returning to cities, but the return to the office has been much slower. We see suburban areas being net winners in the residential and retail sectors, although the picture for downtown... 22nd October 2021 · 18 mins read
US Housing Market Update Are too many homes being built? Increased demand for larger homes to accommodate working from home and continued migration to the sunbelt will support housing demand even as population growth slows. We therefore don’t think the... 22nd October 2021 · 3 mins read
China Economics Weekly Policy outlook, new forecasts, property tax Ahead of the publication of our quarterly China Economics Outlook next week, we consider how Evergrande's woes, power cuts and supply shortages have shifted prospects for the economy. Our answer... 22nd October 2021 · 4 mins read
US Housing Market Data Response Existing Home Sales (Sep.) The 7.0% m/m rise in existing home sales in September does not mark the start of an upward trend in activity. With mortgage rates rising, inventory close to record lows and home buying sentiment at 39... 21st October 2021 · 2 mins read
UK Commercial Property Update Online risks to retail may not be as bad as once feared By any standard, retail property has had a torrid time during the pandemic. The latest data on online sales look like further bad news, with the share of spending much higher than expected after... 21st October 2021 · 3 mins read
Europe Commercial Property Update Warsaw retail rents to recover but not surge After a fall this year, we expect Warsaw retail rents to return to growth in 2022. That said, the city’s reliance on office workers means that the shift to remote working will weigh on retail spending... 21st October 2021 · 3 mins read
UK Housing Market Update Materials shortages restrain construction Shortages of construction materials are unlikely to ease for at least another 6-12 months, restraining activity in the renovation sector and among smaller housebuilders That is likely to cap housing... 21st October 2021 · 3 mins read
Europe Commercial Property Update Near-term upgrades to German office rental growth Prime office rental growth in Germany is on track to be stronger than forecast in the near term. However, we think rental growth will slow in the coming years as the supply of modern space is expected... 20th October 2021 · 3 mins read
US Housing Market Data Response Housing Starts (Sep.) Single-family starts and building permits have been stable over the past three months at around 1.1m annualised, as strong new home demand has run up against shortages of materials and labour. We... 19th October 2021 · 2 mins read
US Commercial Property Update Downtown offices not losing out everywhere National office data suggest that suburban office markets have significantly outperformed downtown offices since the onset of the pandemic. But metro-level data point to a more nuanced picture in... 18th October 2021 · 3 mins read
UK Housing Market Chart Pack Residential demand returns to London While the UK has seen house prices boom over the past year, central London has not joined in as increased remote working led buyers to shun the capital for more space in the suburbs and further afield... 18th October 2021 · 6 mins read
China Data Response China GDP (Q3), Activity & Spending (Sep.) In q/q terms, official GDP growth slowed to a crawl last quarter. And our China Activity Proxy points to a sharp contraction. Although some of the recent weakness in services is now reversing... 18th October 2021 · 3 mins read
US Commercial Property Data Response Commercial Property Lending (Sep.) Outstanding real estate debt increased for the fourth consecutive month in September, thanks to net lending turning a corner in the residential sector and accelerating in the commercial sector. 15th October 2021 · 2 mins read
US Housing Market Chart Pack Rising mortgage rates will help cool booming prices Mortgage rates are on the rise and we expect they will see further gains to end the year at around 3.5%. That, alongside relatively tight credit conditions, will help cool rampant house price... 15th October 2021 · 9 mins read
