Europe Commercial Property Update

Q3 RICS: Weak occupier demand a risk to recovery

The latest RICS survey showed that investor sentiment continued to improve in Europe in Q3, adding to the growing evidence that the market has bottomed. However, declines in reported occupier demand...

31st October 2024 · 4 mins read

UK Commercial Property Update

RICS survey highlights uneven nature of recovery

The Q3 RICS commercial survey painted a somewhat mixed picture of the market. There was a slight improvement in investment and capital value expectations, but rental expectations were revised down...

31st October 2024 · 3 mins read

US Housing Market Rapid Response

Case-Shiller/FHFA House Prices (Aug. 2024)

A slightly healthier 0.3% rise in house prices in August does not change the fact that the market is rapidly cooling amid weak demand and growing supply. Therefore, we stand by our recent decision to...

29th October 2024 · 1 min read

Europe Commercial Property Update

French residential property returns to lag the pack

Softer rental prospects, less scope for yields to fall and lower income returns look set to weigh on French residential property returns compared to Germany, the UK and the US in the coming years.

29th October 2024 · 3 mins read

UK Commercial Property Rapid Response

Lending to commercial property (Sep. 24)

Net lending to property totalled £1.33bn in September, essentially unchanged from the previous month.

29th October 2024 · 1 min read

UK Economics Rapid Response

UK Money & Lending (Sep. 2024)

Although consumer confidence has fallen ahead of the Budget, there is little evidence in September’s money and lending figures that Budget worries are having a big influence on households’ financial...

29th October 2024 · 3 mins read

Australia & New Zealand Chart Pack

ANZ Chart Pack (Oct. 2024)

Our ANZ Chart Pack has been updated with the latest data and our analysis of recent developments. The Antipodean central banks will tread different paths on policy over the forecast horizon. With the...

29th October 2024 · 1 min read

US Commercial Property Update

‘Extend and pretend’ still ongoing for some banks

The NCREIF Q3 index posted a positive return for the first time in two years, with only offices recording a negative outturn. But with firmer evidence that poorly capitalized banks have been less...

28th October 2024 · 3 mins read

US Housing Market Rapid Response

New Home Sales (Sep. 2024)

The increase in new home sales in September was probably supported by the fall in mortgage rates last month. Rates have rebounded since then, however, which lends support to our view that new home...

24th October 2024 · 2 mins read

UK Commercial Property Chart Pack

UK Commercial Property Chart Pack (Oct. 24)

Capital values are now recovering and, notwithstanding a recent rise in interest rates, will continue to do so. However, with not much prospect for yield compression the recovery will be weak by past...

24th October 2024 · 1 min read

US Housing Market Rapid Response

Existing Home Sales (Sep. 2024)

The 1% m/m fall in seasonally adjusted existing home sales in September seems underwhelming given last month’s drop in mortgage rates, but the rise in mortgage applications in September points to a...

23rd October 2024 · 2 mins read

Europe Commercial Property Update

Dutch EPC evidence highlights risk from stranded assets

There is growing concern about how the green transition may create stranded real estate assets, impacting negatively on both lenders and investors. We can get some idea of the scale of the problem in...

23rd October 2024 · 4 mins read

Europe Commercial Property Focus

What is the outlook for German residential?

Poor economic growth and vulnerability to structural change in the office and retail sector are set to weigh on German property returns in the coming years. But solid rental prospects in the...

23rd October 2024 · 14 mins read

UK Commercial Property Update

Are we underestimating the capital value recovery?

The strong recovery in property equities prices across the UK, euro-zone and US implies larger rises in commercial property capital values by the end of the year than we are currently forecasting...

22nd October 2024 · 3 mins read

US Commercial Property Update

Alternatives set to account for above 20% of investment

Alternatives have grown in importance in portfolios in recent years and structural drivers including AI, an aging population and poor housing affordability point to further growth in occupier demand...

22nd October 2024 · 4 mins read