US Housing Market Data Response Mortgage Applications (Jun.) Home purchase mortgage applications fell back again in June, leaving them down 23% compared to the 11-year high seen in January. Tight inventory and stretched affordability are largely responsible for... 7th July 2021 · 2 mins read
UK Commercial Property Update South East office rents still have further to fall Although we expect the economic outlook will continue to improve, we think that South East office rents will still edge lower this year. What’s more, we don’t expect much of a rebound in 2022, as a... 7th July 2021 · 3 mins read
UK Housing Market Data Response Halifax House Prices (Jun.) While we would be wary of reading too much into the small decline in house prices in June reported by Halifax, timely measures of house prices are consistent in pointing to a moderation in house price... 7th July 2021 · 2 mins read
Europe Commercial Property Update Has Athens been pushed off track by COVID-19? After gaining ground since 2018, the recovery in Athens’ prime property values has stalled. However, we think that the catch up with the euro-zone will continue, albeit at a slower pace than in recent... 6th July 2021 · 3 mins read
UK Housing Market Chart Pack Demand shifts towards outer London London house prices have underperformed the national average over the past year as the pandemic has led to a shift in demand away from inner cities. Arguably London was due a period of weaker price... 2nd July 2021 · 6 mins read
UK Commercial Property Update Office markets to shrug off end of furlough The government’s furlough scheme is regarded as one of the successes of the UK’s coronavirus policy response, but all good things must come to an end. Over the next few months, its unwinding will... 2nd July 2021 · 3 mins read
Europe Commercial Property Update Vaccine passport no silver bullet for prime high streets Lingering restrictions on travel mean that weakness in foreign tourist spending will continue to weigh on retailers’ incomes in tourist-dependent retail markets this year. This supports our view that... 1st July 2021 · 3 mins read
Australia & New Zealand Data Response Australia CoreLogic House Prices (Jun.) House prices are continuing to surge and forward indicators suggest the upswing has a little further to run. But we suspect the boom will peter out by the end of the year and prices will decline a... 1st July 2021 · 2 mins read
US Commercial Property Data Response US Metro Employment (May.) Employment growth in May was positive in all metros, largely driven by gains in the leisure & hospitality sector. This benefited Orlando, Los Angeles and Las Vegas the most, but still left employment... 30th June 2021 · 2 mins read
Europe Commercial Property Update Paris offices to maintain lead over Lyon Tighter supply conditions and the expected smaller hit from the shift to remote working mean that we think Paris office rents will continue to outperform Lyon over the next five years. 30th June 2021 · 3 mins read
US Housing Major Apartment Markets Outlook (Q2 2021) With cities reopening apartment demand will see a substantial rise this year, boosted by the arrival of households who delayed a move last year. Vacancy rates will fall back in all six major cities... 29th June 2021 · 8 mins read
UK Commercial Property Data Response Lending to commercial property (May.) After falling sharply in April, net lending rose in May. We think this can be explained by the extension of payment holidays rather than an increase in new loans. Further ahead, we expect a weak... 29th June 2021 · 2 mins read
UK Housing Market Data Response Mortgage Lending (May) The tick up in mortgage approvals for house purchase in May left them 33% above pre-virus norms, and timely indicators suggest that mortgage lending will remain robust despite the looming end of the... 29th June 2021 · 2 mins read
US Commercial Property Update Student accommodation not set to see a rapid rebound The student accommodation sector faces high levels of uncertainty for the fall 2021 academic year. In our view, demand for student housing will rebound from last year, but fall short of its pre... 25th June 2021 · 3 mins read
Non-Euro Europe Commercial Property Outlook Emerging Europe: Industrial still a bright spot With virus restrictions set to be eased further, we expect the recovery in economic activity to gather pace from Q3, which should give occupier markets a lift. But the pick-up will not be enough to... 25th June 2021 · 18 mins read
UK Housing Market Update Will soaring materials costs slow housebuilding? Inflation in the cost of construction materials has soared as resurgent new home development led to strong demand at the same time as supply was still recovering from disruption due to the pandemic... 24th June 2021 · 3 mins read
