Australia & New Zealand Economics Update Rapid housing rebound will keep RBA on the sidelines Australia’s housing rally showed no signs of slowing in October. Given the RBA’s ongoing concerns about shelter inflation, the data reinforce our view that policy easing is unlikely to be on the... 3rd November 2025 · 3 mins read
UK Housing Market Rapid Response UK Nationwide House Prices (Oct. 2025) The rise in the Nationwide measure of house prices in October suggests that homebuyers may not be as fazed by the threat of tax rises in the Budget on 26 th November, potentially on property, as it... 31st October 2025 · 3 mins read
APAC Commercial Property Update RICS data shows APAC CRE sentiment still subdued in Q3 The latest RICS Commercial Property Sentiment Index for Asia-Pacific remained in negative territory in Q3, reaffirming our view that the recovery in this cycle will be weak. Mainland China and Hong... 31st October 2025 · 3 mins read
US Commercial Property Update Q3 US RICS survey shows growing market confidence Investment sentiment saw a sharp improvement in Q3, buoyed by falling interest rates and growing confidence in the economic outlook, although foreign enquiries remained in the doldrums. There was also... 30th October 2025 · 3 mins read
UK Commercial Property Update RICS survey flags concerns over the UK commercial property recovery The RICS survey showed that occupier demand dropped back in Q3 as concerns over the economic outlook, uncertainty around the Budget and rising interests rates all sapped confidence. That has cut... 30th October 2025 · 3 mins read
UK Economics Rapid Response UK Money & Lending (Sep. 2025) There is little evidence within September’s money and lending data that the prospect of tax rises in the Budget on 26th November is influencing households’ financial decisions just yet. 29th October 2025 · 3 mins read
UK Commercial Property Rapid Response Lending to UK commercial property (Sep. 25) Net lending to commercial property dropped to £1.65bn in September, from £2.60bn in August. That helped bring the three-month total down to £6.2bn, the first decline on that measure since March. 29th October 2025 · 2 mins read
US Housing Market Rapid Response US Case-Shiller/ FHFA House Prices (Aug 2025) The 0.2% m/m rise in house prices in August follows five months of flat or falling prices. We are predicting that a modest pick-up in demand paired with nagging undersupply will support prices in the... 28th October 2025 · 2 mins read
UK Housing Market Outlook Possible tax rises a further headwind to housing Due to our view that lingering fiscal concerns will mean gilt yields and therefore mortgage rates will fall by less than we previously thought, we now expect house prices in the year to Q4 to rise by... 27th October 2025 · 17 mins read
US Commercial Property Update NCREIF Q3 2025: Same old, same old Capital values were broadly flat in Q3 and total returns reached 1.2% q/q, unchanged from Q2. While the main sector ranking is consistent with our views – retail and residential leading, office and... 27th October 2025 · 3 mins read
US Housing Market Rapid Response US Existing Home Sales (Sep. 2025) Lower borrowing costs were behind the pick-up in existing home sales last month. As we expect less policy easing next year than markets are currently pricing in, however, mortgage rates should... 23rd October 2025 · 2 mins read
Middle East & North Africa Economics Update Qatar’s weak bank lending to persist Qatar has experienced a multi-year slowdown in credit growth and, in contrast to the past decade or so, lending is now expanding at a weaker pace than in the rest of the Gulf. We expect domestic... 23rd October 2025 · 4 mins read
Asia Economics Update BoK easing cycle on pause, for now The Bank of Korea kept rates on hold today and cited financial stability risks as a key constraint on further easing. But we think those concerns are overdone and the bank retained its easing bias so... 23rd October 2025 · 3 mins read
US Commercial Property Update Self-storage valuations look most stretched of all main sectors Self-storage cap rates are roughly on par with the 10-year Treasury yield, which is well short of the 200bps spread seen over the last 10 years. Coupled with an uninspiring outlook for rent growth... 22nd October 2025 · 4 mins read
APAC Commercial Property Update Brisbane poised to outperform due to lower remote work share Office attendance in Australia has recovered from pandemic lows but has stalled at around 70% of pre-pandemic levels since 2024. But the larger exposure of Melbourne and Sydney to the finance and... 22nd October 2025 · 3 mins read
UK Commercial Property Chart Pack UK Commercial Property Chart Pack (Oct. 25) Rental growth has continued to surprise on the upside, but signs of a more significant compression of yields in August have not carried through to September. Capital value growth is therefore muted... 21st October 2025 · 1 min read
