UK Commercial Property Update

Notes from our residential investment roundtables

At our recent roundtable we shared our view that strong rental prospects mean residential property is likely to outperform other commercial property sectors over the next five years. Across the...

17th May 2024 · 4 mins read

US Commercial Property Update

Industrial REITs point the way for direct market prices

The recent sharp drop in industrial REIT prices appears to have been tied to Prologis’ Q1 earnings call, which referred to especially weak leasing in Q1 and a cut to expected year-end net operating...

17th May 2024 · 3 mins read

China Economics Weekly

Property support, imbalances growing, tariff retaliation

The property support measures outlined today are significant. If local governments and SOEs take advantage of the funding on offer to buy unsold inventory from developers, sales would rise by around...

17th May 2024 · 5 mins read

US Housing Market Rapid Response

US Housing Starts (Apr. 2024)

The modest rebound in housing starts in April confirmed that the slump the month before was a weather-related blip. But the recovery wasn’t as strong as we had anticipated, which potentially casts...

16th May 2024 · 2 mins read

China Economics Update

Destocking could offer a short-run fix to property woes

Government purchases of unsold housing may help to stabilise China’s property sector in the near-term, alleviating a key economic headwind. But they won’t prevent the sector from shrinking...

16th May 2024 · 6 mins read

Europe Commercial Property Valuation Monitor

Europe Commercial Property Valuation Monitor (Q2 2024)

Property valuations were little changed in Q1 2024, failing to build upon the considerable improvement in 2023. Property yields increased further, but the smaller rise failed to offset gains in...

16th May 2024 · 0 mins read

Europe Commercial Property Update

Consensus agree prime office rental growth to slow

Forecasts for prime office rental growth have generally proven too pessimistic over the past couple of years, but there is again broad agreement that a slowdown is on the way this year. However, we...

15th May 2024 · 4 mins read

UK Commercial Property Update

Hotel demand to recover as cost-of-living crisis abates

Spending on hotels and overseas visits to the UK are still not back to their pre-COVID-19 levels. But with cost-of-living pressures set to ease around the world and consumer spending likely to outpace...

15th May 2024 · 3 mins read

US Housing Market Chart Pack

US Housing Market Chart Pack (Apr. 2024)

Mortgage rates climbed back above 7% last month but we think that trend will soon reverse, with rates falling to 6.5% by year-end. Lower borrowing costs will draw more mortgaged buyers into the market...

14th May 2024 · 1 min read

UK Housing Market Update

Is renting becoming the preserve of the rich?

High net migration has led to a big jump in demand for rental properties that has pushed up the cost of rent compared to the average salary. But comparing rents to average pay is not as accurate a...

13th May 2024 · 4 mins read

US Commercial Property Update

Storms on the horizon for West Coast port markets

After a prolonged period of weakness, the West Coast ports have seen an improvement in trade volumes recently. However, industrial demand in these markets remains very weak and growing headwinds –...

10th May 2024 · 4 mins read

UK Commercial Property Valuation Monitor

UK Commercial Property Valuation Monitor (Q1 24)

A combination of a further rise in property yields and fall in alternative asset yields drove an improvement in property valuations in Q1. The more recent rise in risk-free rates implies that...

10th May 2024 · 0 mins read

US Housing Market Update

Shutting out institutional buyers won’t lower house prices

Lawmakers' current efforts to restrict institutional buying of single-family homes won’t put downward pressure on house prices if enacted, as their market share is minimal.

9th May 2024 · 3 mins read

Europe Commercial Property Update

Italian industrial upswing has further to run

The Italian industrial market made a strong start to 2024, with prime rent growth outpacing the rest of the euro-zone and beating our own forecasts. Rental gains are still expected to slow going...

9th May 2024 · 3 mins read

UK Housing Market Update

RICS Residential Market Survey (April 2024)

Increasing supply points to softer price growth While sales volumes were robust in April according to the RICS Residential Market Survey, stalling demand and increasing supply suggests that prices...

9th May 2024 · 2 mins read