UK Commercial Property Data Response RICS Commercial Property Market Survey (Q3) Surveyors reported a continued improvement in occupier demand and investment enquiries in Q3, and notably the net balance for offices turned positive on both measures. That said, surveyors expect... 28th October 2021 · 2 mins read
US Commercial Property Update ULI Consensus Forecast (Fall 2021) Consensus forecasts for 2021 have been upgraded in all four major sectors on the back of strong investor demand. But tellingly the picture is more varied for 2022-23, where industrial and apartment... 27th October 2021 · 2 mins read
US Housing Market Data Response Case-Shiller/FHFA & New Home Sales (Aug./Sep.) The FHFA reported that annual house price inflation declined in August for the first time since May 2020. Rising mortgage rates mean that slowdown will continue, and we expect it to fall back to 3% y... 26th October 2021 · 2 mins read
US Commercial Property Data Response NCREIF Property Index (Q3 2021) The NCREIF index recorded a huge 5.2% quarterly return in Q3 thanks to further improvement in all sectors. With no sign of any let-up in investment demand, that puts annual returns on course to exceed... 26th October 2021 · 3 mins read
China Economic Outlook Downturn setting in The economy slowed sharply in Q3. Weakness in services is already reversing as virus controls have been relaxed again. But industry and construction are on the cusp of a deeper downturn that could... 26th October 2021 · 23 mins read
Europe Commercial Property Update Risk of stronger French industrial rental growth ahead We expect steady French industrial rental growth over the next few years on the back of a solid economic backdrop and more online shopping. That said, if construction costs and land constraints become... 25th October 2021 · 3 mins read
UK Commercial Property Chart Pack Rental recovery gathers momentum September was another good month for commercial property, with the first year-on-year rental growth recorded since the onset of COVID-19. But as clouds gather over the economic upturn, we suspect that... 22nd October 2021 · 7 mins read
US Commercial Property Focus How pandemic changes will affect US metros Americans are returning to cities, but the return to the office has been much slower. We see suburban areas being net winners in the residential and retail sectors, although the picture for downtown... 22nd October 2021 · 18 mins read
US Housing Market Update Are too many homes being built? Increased demand for larger homes to accommodate working from home and continued migration to the sunbelt will support housing demand even as population growth slows. We therefore don’t think the... 22nd October 2021 · 3 mins read
China Economics Weekly Policy outlook, new forecasts, property tax Ahead of the publication of our quarterly China Economics Outlook next week, we consider how Evergrande's woes, power cuts and supply shortages have shifted prospects for the economy. Our answer... 22nd October 2021 · 4 mins read
US Housing Market Data Response Existing Home Sales (Sep.) The 7.0% m/m rise in existing home sales in September does not mark the start of an upward trend in activity. With mortgage rates rising, inventory close to record lows and home buying sentiment at 39... 21st October 2021 · 2 mins read
UK Commercial Property Update Online risks to retail may not be as bad as once feared By any standard, retail property has had a torrid time during the pandemic. The latest data on online sales look like further bad news, with the share of spending much higher than expected after... 21st October 2021 · 3 mins read
Europe Commercial Property Update Warsaw retail rents to recover but not surge After a fall this year, we expect Warsaw retail rents to return to growth in 2022. That said, the city’s reliance on office workers means that the shift to remote working will weigh on retail spending... 21st October 2021 · 3 mins read
UK Housing Market Update Materials shortages restrain construction Shortages of construction materials are unlikely to ease for at least another 6-12 months, restraining activity in the renovation sector and among smaller housebuilders That is likely to cap housing... 21st October 2021 · 3 mins read
Europe Commercial Property Update Near-term upgrades to German office rental growth Prime office rental growth in Germany is on track to be stronger than forecast in the near term. However, we think rental growth will slow in the coming years as the supply of modern space is expected... 20th October 2021 · 3 mins read
US Housing Market Data Response Housing Starts (Sep.) Single-family starts and building permits have been stable over the past three months at around 1.1m annualised, as strong new home demand has run up against shortages of materials and labour. We... 19th October 2021 · 2 mins read
