China Chart Pack

China Chart Pack (Apr. 24)

China’s economy grew at a healthy pace in the first quarter of 2024. Our China Activity Proxy suggests this was on the back of strong external demand. While fiscal support should continue to keep the...

30th April 2024 · 0 mins read

UK Commercial Property Rapid Response

Lending to commercial property (Mar. 24)

30th April 2024 · 1 min read

China Rapid Response

China Politburo Meeting (Apr. 24)

China’s senior leadership has today signalled further fiscal and monetary support for the economy and renewed efforts to stabilise the housing market. That should help prolong the recent economic...

30th April 2024 · 3 mins read

US Commercial Property Update

Share of remote work key to global office performance

The wide divergence in global office market performance to-date has been driven by significant differences in the return to office and the impact that has had on occupiers’ leasing decisions. US...

29th April 2024 · 5 mins read

US Commercial Property Update

NCREIF Q1 NPI shows more pain to come

While the headline of the Q1 NCREIF NPI data (-0.9% q/q total return) suggests we could be near the end of the price falls, we think this simply stored up bigger falls for the rest of the year. The...

26th April 2024 · 3 mins read

US Commercial Property Update

Q1 RICS survey highlights diverging market views

While overall surveyor sentiment remains negative, the Q1 RICS survey appeared to show a divergence in views between respondents of where in the cycle the market currently is. We think the apparent...

26th April 2024 · 3 mins read

Europe Commercial Property Update

Still-weak sentiment consistent with sluggish recovery

The latest RICS survey suggested that there was a further improvement in occupier and investment demand at the beginning of 2024. However, the big picture was one of a very weak market, reaffirming...

25th April 2024 · 3 mins read

UK Commercial Property Update

Residential rental growth to outperform

The Q1 RICS commercial survey provided further evidence that occupier demand has turned the corner, with demand ticking up in the industrial and office sectors. But with availability still elevated...

25th April 2024 · 3 mins read

US Housing Market Update

What later Fed rate cuts mean for the housing market

A later start to Fed rate cuts than we anticipated will push the fall in mortgage rates and recovery in activity into the second half of the year. But as we think that the Fed Funds rate will...

25th April 2024 · 3 mins read

London Housing Markets Chart Pack

London Housing Chart Pack (Q2 2024)

House price growth in London remains negative according to the ONS, but timelier measures of house prices and sentiment suggest that activity has picked up and prices are regaining momentum. The...

25th April 2024 · 1 min read

UK Commercial Property Chart Pack

UK Commercial Property Chart Pack (Apr. 24)

All-property yields have been broadly stable since the start of the year. Higher-than-expected interest rates mean yields may see a further small rise over the next few months, but we still think they...

24th April 2024 · 1 min read

US Commercial Property Update

Permanent online shift is mixed news for retail

The latest e-commerce statistics suggest that the pandemic has left US online sales on a permanently higher trend. That will be bad news for retail rents generally, though the detailed data also hint...

23rd April 2024 · 4 mins read

US Housing Market Rapid Response

US New Home Sales (Mar. 2024)

The large uptick in new home sales in March is consistent with our above-consensus prediction that sales of new homes will climb to 750,000 by year end.

23rd April 2024 · 2 mins read

Europe Commercial Property Update

Oslo offices to lead the way in Scandinavia

Prime office rent growth in Scandinavia is expected to moderate in the coming years as soft demand and rising supply push up vacancy. But having trailed the other Scandinavian cities in 2023, we think...

23rd April 2024 · 3 mins read

China Economics Update

China trip notes – sentiment still depressed

A week spent visiting clients, contacts and friends in Beijing and Shanghai has underlined the extent of the pessimistic shift in sentiment within China.

23rd April 2024 · 5 mins read