APAC Commercial Property Update Brisbane poised to outperform due to lower remote work share Office attendance in Australia has recovered from pandemic lows but has stalled at around 70% of pre-pandemic levels since 2024. But the larger exposure of Melbourne and Sydney to the finance and... 22nd October 2025 · 3 mins read
UK Commercial Property Chart Pack UK Commercial Property Chart Pack (Oct. 25) Rental growth has continued to surprise on the upside, but signs of a more significant compression of yields in August have not carried through to September. Capital value growth is therefore muted... 21st October 2025 · 1 min read
US Housing Market Outlook Boost from lower mortgage rates to be short-lived While slightly lower borrowing costs have boosted the near-term outlook, the decline has not been large enough to meaningfully improve housing affordability. In addition, we believe that market... 20th October 2025 · 11 mins read
Europe Commercial Property Update CE lead indicator points to euro-zone capital value slowdown Our new CE Capital Value Lead Indicator for the euro-zone is consistent with our latest forecast view that prime all-property capital value growth will slow to below 5% y/y by year-end. 20th October 2025 · 3 mins read
China Rapid Response China GDP (Q3) & Activity (Sep. 2025) Headline GDP growth fell to its lowest in a year last quarter. But we think the figures still overstate the pace of economic expansion by at least 1.0%-pts. The September activity data were mixed –... 20th October 2025 · 3 mins read
UK Commercial Property Update How concerning is the rise in ‘extend and pretend’ for UK commercial property loans? The surge in net lending by banks to commercial property firms may in part reflect borrowers being forced to refinance loans on buildings they have been unable to sell. But in contrast to the GFC... 17th October 2025 · 4 mins read
Canada Economics Update Canada Housing Watch (Oct. 2025) The weakness in the MLS House Price Index in September was largely due to a decline in Toronto, where there is little sign of a turnaround in sight. That presents a risk to our view that the... 16th October 2025 · 4 mins read
Canada Chart Pack Canada Chart Pack (Oct. 2025) While the economy appears to be narrowly avoiding recession, we expect GDP growth to average less than 1% annualised over the second half of the year, with the unemployment rate rising toward 7.3%... 16th October 2025 · 1 min read
Global Commercial Property Update Retail and residential sectors set to outperform globally In a period of slow economic growth but stabilising inflation and earnings growth, we expect the residential sector to see the strongest rental growth globally, with industrial close behind thanks to... 15th October 2025 · 4 mins read
Europe Commercial Property Update CRE NPLs in Germany now highest in the EU and more on the way The notable rise in the share of non-performing loans to commercial real estate in Germany over the past couple of years stands out within the EU. We expect further increases to come in Germany, but... 14th October 2025 · 3 mins read
UK Housing Market Update Is this the start of a sharp slowdown in the UK housing market? Concerns over possible tax rises in the Budget on 26th November, higher mortgage rates and the weak jobs market have left the housing market paralysed. We doubt this is the start of a sharp slowdown... 14th October 2025 · 3 mins read
US Commercial Property Rapid Response US Commercial Real Estate Lending (Sep.) Net lending by banks to commercial real estate reached $4.1bn in September, its weakest monthly outturn since April. That was below the monthly average of $4.7bn for the year-to-date and less than... 13th October 2025 · 1 min read
UK Economics Weekly Is the Budget already buffeting the economy? The recent poor performance of the housing market and the weakness in consumer and business sentiment probably has more to do with rising inflation, higher mortgage rates and the stuttering jobs... 10th October 2025 · 9 mins read
US Commercial Property Apartment Metros Outlook Strong supply pipelines cloud outlook for D.C. & Miami Multifamily is set to be a top-performing sector over our five-year forecast, but returns will differ significantly across the 17 metros in our coverage. Miami and D.C. are likely to struggle as... 9th October 2025 · 6 mins read
US Commercial Property Update New lead indicator points to short-lived capital value growth Our new CE Capital Value Lead Indicator suggests that all-property capital growth may finally turn positive on an annual basis in H2 2025. But importantly, it also suggests that any growth this year... 9th October 2025 · 3 mins read
UK Housing Market Update UK RICS Residential Market Survey (Sep. 2025) September’s RICS survey provides further evidence that the prospect of tax rises in the Budget on 26th November has put the housing market on ice, particularly in London. If taxes on property were to... 9th October 2025 · 3 mins read
