UK Housing Market Rapid Response UK Halifax House Prices (Sep. 2025) The fall in the Halifax measure of house prices in September was at odds with September’s 0.5% m/m rise on the alternative Nationwide measure. But it supports other leading indicators which suggest... 7th October 2025 · 3 mins read
UK Commercial Property Rapid Response S&P Global/CIPS UK Construction PMI (Sep. 25) The headline CIPS construction PMI rose for the second consecutive month in September to 46.2, from 45.5 in August. But that is still firmly in contractionary territory. 6th October 2025 · 1 min read
Europe Commercial Property Update Conversions reinforce a strong Spanish office rent outlook Office rental growth in Spain’s major markets will be underpinned by rapid employment growth and relatively low rates of hybrid work. And these trends are further supported by healthy conversion... 2nd October 2025 · 3 mins read
US Commercial Property Update Why have multifamily and industrial delinquency rates diverged? The CMBS delinquency rate for multifamily was the second highest in August, largely reflecting relatively loose lending practices around the turn of the decade which has led to an outsized impact from... 1st October 2025 · 4 mins read
UK Housing Market Rapid Response UK Nationwide House Prices (Sep. 2025) While September’s 0.5% m/m gain in Nationwide house prices was better than expected (consensus forecast, CE +0.2% m/m), we suspect that the weak labour market and still high mortgage rates will... 1st October 2025 · 3 mins read
Australia & New Zealand Economics Update Australia’s house price growth may reach 7% House price growth retained its strong momentum in September and our leading index suggests the rally has further to run. But with affordability still very stretched, we suspect that the housing... 1st October 2025 · 3 mins read
US Housing Market Chart Pack US Housing Market Chart Pack (Sep. 25) We expect the recent drop in mortgage rates to give the housing market a short-term boost, although buying activity will remain low by historic standards. We expect the 30-year fixed rate to stay... 30th September 2025 · 1 min read
US Housing Market Rapid Response US Case-Shiller/FHFA House Prices (Jul. 2025) The 0.1% m/m fall in house prices in July marks the fifth consecutive monthly decline, meaning it now looks unlikely that prices will rise this year, as we had previously thought. That said, we still... 30th September 2025 · 2 mins read
Global Commercial Property Chart Pack Global Commercial Property Chartpack (Q3 2025) The gradual recovery in property values is set to continue in Europe over the next few years, but we think values have further to fall in the US and APAC as they adjust to the higher interest rate... 30th September 2025 · 0 mins read
US Housing Market Update Lower rates to give mortgage lending a short-term lift We expect recent mortgage rate declines to support stronger lending and sales, prompting us to raise our end-2025 existing home sales forecast to 4.35m annualised, up from 4.15m. However, based on our... 29th September 2025 · 3 mins read
Europe Commercial Property Outlook Weak recovery despite lower interest rates The extension of the ECB easing cycle into 2026 will support real estate markets. However, a softer economic outlook and the narrow spread of property to government bond yields mean even our upwardly... 29th September 2025 · 26 mins read
UK Commercial Property Rapid Response Lending to UK commercial property (Aug. 25) Net lending to property reached its highest monthly level since May 2020, reflecting a high volume of refinancing activity rather than an especially strong rise in originations for new purchases. 29th September 2025 · 1 min read
UK Economics Rapid Response UK Money & Lending (Aug. 2025) There is little evidence in August’s money and lending figures that concerns over further tax rises in the Budget on 26th November are having a big influence on households’ financial decisions as of... 29th September 2025 · 3 mins read
US Commercial Property Office Metros Outlook Southern US office markets still set to outperform We expect capital values to see another drop in 2026. But led by strong rent growth in Miami, we think southern markets will start to recover before the end of next year. Occupier demand in these... 26th September 2025 · 6 mins read
Middle East & North Africa Chart Pack Middle East & North Africa Chart Pack (Sep. '25) Our Middle East & North Africa Economics Chart Pack has been updated with the latest data and our analysis of recent developments. The Middle East and North Africa is set to record its fastest GDP... 26th September 2025 · 1 min read
UK Commercial Property Update Are property equities signalling a fall in UK commercial property capital values? The recent rise in interest rate expectations has not been kind to UK property equities, with the NAREIT price index currently down 18% y/y. On past form that implies commercial property capital... 25th September 2025 · 4 mins read
