UK Housing Market Update

The shape of Labour's housing policy

The overarching theme of the Labour government’s housing policies will be a rebalancing of rights in favour of tenants and aspiring homeowners at the expense of landowners and landlords. That said...

3rd July 2024 · 3 mins read

Global Commercial Property Chart Pack

Global Commercial Property Chartpack

The slower adjustment to past rises in interest rates and a sharper hit to office demand is set to weigh on US property returns over the next couple of years. Overall, the UK is set to outperform over...

3rd July 2024 · 1 min read

Event

Global Real Estate Drop-in: Which region looks set to outperform?

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The outperformance of the US economy has supported stronger commercial real estate returns there over recent decades than either mainland Europe or the UK.

US Housing Market Rapid Response

US Mortgage Applications (June 2024)

The decline in mortgage rates back below 7% helped mortgage applications for home purchase to rise by 5.1% m/m in June. That gain was tiny in the context of the ongoing three-year slump in...

3rd July 2024 · 2 mins read

US Economics Update

Recovery in residential investment to lose steam

The rebound in residential investment over the past year will go into reverse in Q2, as housing starts and home sales slump again. We expect this weakness to persist thanks to a coming slump in new...

2nd July 2024 · 2 mins read

US Commercial Property Apartment Metros Outlook

Houston and Chicago top the apartment rankings

Across the 17 metros we cover, most will see higher vacancy over the next year or so due to a surge in completions. Atlanta and Houston will be the key exceptions. There new construction has plummeted...

2nd July 2024 · 6 mins read

UK Commercial Property Update

Retail rental growth pessimism appears misplaced

The consensus is still downbeat on the outlook for retail rents, with growth expected to underperform even the struggling office sector. But with a decent consumer recovery on the horizon we think...

2nd July 2024 · 3 mins read

UK Economics Rapid Response

UK Money & Lending (May 2024)

May’s money and lending data provided a bit further evidence that the drag from higher activity is starting to fade. Together with our view that the Bank of England will cut interest rates from 5.25%...

1st July 2024 · 3 mins read

UK Housing Market Rapid Response

Nationwide House Prices (Jun. 2024)

Although house prices rose slightly in June, an earlier dip means they were flat on the quarter in Q2. With signs mortgage rates are causing demand to falter and that supply is improving, we think...

1st July 2024 · 3 mins read

Australia & New Zealand Economics Update

Australia CoreLogic House Prices (Jun.)

Australian house price gains softened just a smidge in June as housing demand held up reasonably well. However, as strained affordability takes its toll, we still think that house price growth will...

1st July 2024 · 3 mins read

China Chart Pack

China Chart Pack (Jun. 24)

Our China Chart Pack has been updated with the latest data and our analysis of recent developments. China’s economy has regained some momentum in recent quarters and should continue to do relatively...

28th June 2024 · 1 min read

UK Housing Market Update

House prices to slip back in the near term

The slight increase in mortgage rates since the beginning of the year appears to have reached a tipping point for demand. At the same time, the supply of homes being put up for sale has increased...

27th June 2024 · 4 mins read

US Commercial Property Update

CMBS losses not a sign of widespread debt crisis

News that some top-rated CMBS in both the US and Europe are set to make losses is in line with our previous view that distress will ramp up in 2024. But, to date, the troubled securities have all been...

27th June 2024 · 3 mins read

Europe Commercial Property Update

Benelux prime office rent outperformance to wane

A soft start to 2024 for office demand and weak jobs outlook in Benelux suggest that recent rental outperformance will not last. With supply also rising, we think prime rental growth will slow to...

27th June 2024 · 3 mins read

US Housing Market Rapid Response

US New Home Sales (May 2024)

The 11.3% m/m decline in new home sales in May will steal all the headlines, but it largely reflected a significant upward revision to the April sales number, leaving us somewhat confused at the...

26th June 2024 · 2 mins read