Real Estate

Europe Commercial Property Valuation Monitor

All sectors overvalued despite rise in property yields

Despite a rise in property yields, increases in alternative asset yields led to a further deterioration in European property valuations in Q2. (See Chart 1.) While industrial and office valuations...

2nd September 2022 6 mins read

Europe Commercial Property Update

Have the prospects for Warsaw industrial changed?

The outlook for industrial demand in Poland has improved dramatically because of the pandemic and the rapid growth of ecommerce. This is set to keep prime industrial rental growth in Warsaw higher...

1st September 2022 6 mins read

US Commercial Property Data Response

US Metro Employment (Jul.)

Almost all metros saw further gains in total employment in July, with Dallas continuing to lead, and joined by Houston, Charlotte and Miami as the fastest growers. But office-based employment growth...

31st August 2022 3 mins read

Non-Euro Europe Commercial Property Chart Pack

Scandinavia & Switzerland: The property cycle turns

The Nordic and Swiss economies performed relatively well in Q2, while prime rents showed further rises in Scandinavian office and industrial markets. However, the economic outlook has darkened, which...

26th August 2022 5 mins read

Non-Euro Europe Commercial Property Chart Pack

Emerging Europe: Yield rises start to weigh on values

Higher interest rates and a weaker economic and property outlook contributed to a rise in all-property yields in Q2. While office and industrial rents still made solid gains, this increase in yields...

25th August 2022 5 mins read

US Commercial Property Chart Pack

Recoveries still lagging in the major coastal markets

Q2 data showed a mixed picture across the three sectors. For offices, the northern coastal markets continue to lag, with rent growth turning positive but still weaker than most other markets. Houston...

24th August 2022 7 mins read

US Commercial Property Chart Pack

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

Europe Commercial Property Chart Pack

Strong rental rises, but jump in yields weighs on values

While quarterly rental rises surprised on the upside in Q2, property yields also rose sooner than expected. This meant all-property capital values barely grew on the quarter and slowed to around 5% y...

22nd August 2022 9 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 Commercial Property Update

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