UK Housing Market Update Where is all the stock? Estate agents undoubtedly have a very limited number of homes on the books. But the idea that the lack of supply is due to few homes being put up for sale is a misconception. High numbers of... 24th November 2021 · 3 mins read
Australia & New Zealand Economics Update Australia - Rate hikes will result in housing downturn High household debt will magnify the impact of interest rate hikes on the housing market and we now expect prices across the eight capital cities to fall by 5% from H2 2023. The upshot is that the RBA... 24th November 2021 · 3 mins read
US Commercial Property Update Are migration trends also driving industrial? Data show a vast divergence in performance across the industrial sector over the last year. While some of the strength is consistent with that in the apartment and office sectors, driven by migration... 23rd November 2021 · 3 mins read
Non-Euro Europe Commercial Property Chart Pack Scandinavia & Switzerland: Values to rise further The rebound in economic activity and robust investor demand paved the way for a continued improvement in Scandinavian and Swiss property markets in Q3. Office and industrial values rose further, as... 23rd November 2021 · 6 mins read
US Housing Market Data Response Existing Home Sales (Oct.) Existing home sales eked out a small gain in October, slowing considerably from last month’s increase. With inventory at a record low, buyer sentiment in a pit and mortgage rates on the rise, we... 22nd November 2021 · 2 mins read
UK Markets Markets mistaken on speed of rate hikes Although the economic backdrop has recently become less favourable for UK asset prices, we expect that the economic recovery will regain some vigour in the second half of next year, that CPI inflation... 22nd November 2021 · 12 mins read
Non-Euro Europe Commercial Property Chart Pack Emerging Europe: More positive on near-term pricing CEE property values completed the final leg of their recovery in Q3, fully reversing the nearly 5.5% peak-to-trough drop in 2020. With rents barely moving on the quarter, falls in yields did all the... 22nd November 2021 · 6 mins read
US Commercial Property Update Structural changes weigh on offices more than retail Google mobility data show a much fuller recovery in visitors returning to retail and recreation than to the workplace. This supports our view that structural changes will weigh on the office sector... 19th November 2021 · 3 mins read
Canada Economics Weekly House prices surge, floods devastate BC The renewed surge in house prices could persuade the Bank of Canada to raise interest rates sooner than we forecast, although the hit to activity from the devasting floods in BC this week reduces the... 19th November 2021 · 4 mins read
UK Commercial Property Outlook Recovery to continue, but at a slower pace The economic recovery has stalled and the near-term outlook is softer. Meanwhile, higher inflation is expected to bring interest rate hikes as early as December 2021, though we think that the pace of... 19th November 2021 · 26 mins read
UK Housing Market Chart Pack Little sign of momentum in prices abating The end of the stamp duty holiday has had remarkably little impact on buyer demand. If anything, the imbalance between strong home purchase demand and limited supply is intensifying. Indeed, Rightmove... 19th November 2021 · 8 mins read
China Economics Update Home sales on the cusp of a rebound New home sales have dropped by a fifth since March, a similar-sized slump to those seen during the previous two housing downturns. With policy now turning more supportive, high-frequency data suggest... 19th November 2021 · 6 mins read
US Commercial Property Chart Pack Office and retail sectors turning a corner Economic growth slowed in Q3, but we expect it to pick up again in Q4. And with earnings growth and inflation at high levels, we see the Fed Funds Rate and 10-year bond yields rising over the next few... 18th November 2021 · 12 mins read
US Housing Market Update MBS taper won’t widen mortgage spreads The announcement that the Fed will start to taper its purchases of MBS this month is not set to widen mortgage spreads. The cut in demand will be gradual and offset by a moderation in the supply of... 18th November 2021 · 3 mins read
US Housing Market Data Response Housing Starts (Oct.) Single-family starts dropped for the fourth consecutive month in October to a 15-month low. But we expect starts will soon turn the corner. New home demand is strong, lumber prices have eased back and... 17th November 2021 · 2 mins read
Europe Commercial Property Chart Pack Rental recovery picks up pace The recovery in euro-zone commercial property values picked up in Q3, supported by a small fall in yields and an improvement in the pace of rental growth. While retail rents held steady, the quarterly... 16th November 2021 · 9 mins read
