US Commercial Property Update

AI boom will not prevent Southern metros pushing ahead

Within a sluggish national picture, metro jobs performance has varied widely with some cities - notably Washington D.C. - seeing big contractions, while others grew strongly - such as Las Vegas and...

27th May 2026 · 3 mins read

US Housing Market Update

Solid apartment fundamentals remain intact despite immigration slowdown

Concerns that this administration’s anti-immigration push would trigger a sharp national slowdown in apartment demand have been misplaced. While unauthorised immigration has turned deeply negative...

27th May 2026 · 4 mins read

US Housing Market Rapid Response

US Case-Shiller/FHFA House Prices (Mar. 2026)

Back-to-back house price declines in February in March, before the full effects of the Iran war on mortgage rates would even have been felt, suggest now is the time to downgrade our forecast. Rather...

26th May 2026 · 2 mins read

UK Commercial Property Chart Pack

UK Commercial Property Chart Pack (May 26)

The risks to the commercial property market from the Iran war are increasing, and the longer risk-free interest rates remain elevated the more likely that will feed through to higher property yields...

22nd May 2026 · 1 min read

UK Housing Market Update

What would a new PM mean for the housing market?

None of the three leading candidates to replace Starmer as Prime Minister advocate an increase in total housing supply, not least due to the fiscal constraints. But Rayner and Burnham may be more...

21st May 2026 · 4 mins read

US Housing Market Rapid Response

US Housing Starts (Apr. 2026)

The small fall in housing starts in April masks a weaker underlying picture, with a surge in volatile multi-family starts offsetting a material weakening in single-family groundbreaking, albeit from a...

21st May 2026 · 1 min read

Europe Commercial Property Update

Consensus agrees prime office rents to be resilient amid Iran war

Upgrades to expectations for euro-zone prime office rental growth this year and next have moved the consensus forecast closer to our own and are consistent with our view that prime office rents will...

20th May 2026 · 2 mins read

Global Commercial Property Update

Care home demand to boom in Asia and North America

The long-term demographic drivers of care home demand are well-rehearsed, but there is likely to be a degree of offset from factors that will keep more seniors living at home for longer. Nevertheless...

19th May 2026 · 6 mins read

US Commercial Property Update

Q1 RICS survey implies Iran war will increase US cap rates

The latest RICS survey showed that the Iran war has dampened both occupier and investor sentiment, with the latter seeing a larger fall. Rental expectations held up though, which implies the fall in...

18th May 2026 · 3 mins read

Europe Commercial Property Update

Q1 RICS survey points to a softening market in Europe

The Q1 RICS survey painted a downbeat picture of sentiment in European commercial property markets, with France and Germany generally weighing on the overall picture and Spain, Portugal and Poland...

18th May 2026 · 3 mins read

China Rapid Response

China Activity & Spending (Apr. 2026)

Domestic headwinds look to have intensified last month, especially when it comes to construction activity. But with external demand picking up and the electronics sector in an upswing, we still think...

18th May 2026 · 3 mins read

Australia & New Zealand Economics Update

Tax changes not a major threat to housing market

Some commentators have been arguing that the tax changes announced in last week’s Budget will end the 30-year super cycle in housing. By contrast, we’re not convinced that the attractiveness of...

18th May 2026 · 4 mins read

US Commercial Property Rapid Response

US Commercial Property Lending (Apr. 26)

15th May 2026 · 1 min read

Canada Economics Update

Canada Housing Watch (May 2026)

There were some encouraging signs of stabilisation in the headline housing market indicators for April, but the further decline in the sales-to-new listing ratio and recent rise in fixed mortgage...

15th May 2026 · 3 mins read

UK Housing Market Update

UK RICS Residential Market Survey (Apr. 2026)

The recent plunge in buyer sentiment triggered by the rise in mortgage rates since the start of the Iran appeared to stabilise in April. Even so, April’s RICS survey continues to suggest that the...

14th May 2026 · 3 mins read