UK Commercial Property Rapid Response Lending to commercial property (Jun. 23) Net lending to commercial property was once again positive in June at £589m. The continued growth in lending to property contrasts with a contraction in overall sterling lending. Indeed, over the past... 31st July 2023 · 1 min read
US Housing Market Update Unpriced climate risks in US residential property Climate change is expected to intensify the scale and frequency of flooding over the coming years. Housing markets in the US have yet to fully price in these risks, leaving many properties... 31st July 2023 · 5 mins read
China Economics Weekly Politburo keeps stimulus hopes alive The highlight of the week was Monday’s Politburo meeting, which struck a dovish tone and promised greater policy support. A lot will depend on the follow-through, and in this note we flag some areas... 28th July 2023 · 7 mins read
Europe Commercial Property Update Little cause for optimism in dire transaction numbers H1 2023 was the weakest six months for European investment in over 10 years. And the difficult financing conditions and stretched valuations that have sapped investor sentiment are unlikely to relent... 28th July 2023 · 3 mins read
US Commercial Property Update RICS Commercial Market Survey (Q2) The latest RICS survey signalled a slight improvement in occupier and investment sentiment in Q2, but confidence remained low by historic standards. Tight credit conditions and a poor economic... 27th July 2023 · 5 mins read
UK Commercial Property Rapid Response RICS Commercial Property Market Survey (Q2 23) The Q2 RICS commercial survey is in line with our view that, whilst the worst is now behind us, yields will see a further rise this year and rental growth will fall back. That will keep total returns... 27th July 2023 · 2 mins read
US Commercial Property Update NCREIF Property Index (Q2 2023) Total returns were negative again in Q2 at -2.0% q/q. This was dragged down by the office sector, where values fell by 7% and quarterly returns were -5.8%, with all other sectors outperforming the all... 26th July 2023 · 4 mins read
US Housing Market Rapid Response Case-Shiller/FHFA House Prices (May.) House prices rose for the fourth consecutive month in May according to Case-Shiller. The resurgence in prices has coincided with an uptick in home sales from February to May, in turn driven by a... 25th July 2023 · 2 mins read
UK Housing Market Update Boost to newbuild volumes over New home construction has been surprisingly resilient to weaker demand so far this year. But that partly reflects activity being brought forward before building standards were tightened in June. With... 24th July 2023 · 3 mins read
Europe Commercial Property Update Weaker supply adds to Amsterdam office optimism Occupier demand in Amsterdam has been more resilient than we expected so far this year. In tandem with supply constraints caused by construction delays, this suggests that prospects for rental growth... 24th July 2023 · 3 mins read
Europe Commercial Property Update Dublin industrial turnaround a sign of what’s to come After trailing the rest of Europe last year, the Dublin industrial market has had a change of fortune in 2023 as rent growth continued to improve. With industrial demand set to benefit from a... 21st July 2023 · 3 mins read
UK Commercial Property Chart Pack UK Commercial Property Chart Pack (Jul. 23) Higher-than-expected core inflation means interest rates are now set to be higher for longer and we still think the economy will enter a mild recession later this year. That’s not a great backdrop for... 20th July 2023 · 1 min read
US Housing Market Rapid Response Existing Home Sales (Jun.) Existing home sales edged lower, dropping by 3.3% m/m to 4,160,000 annualised in June. That decline takes sales back towards the low of 4.0m recorded in January. And despite a marginal pickup in... 20th July 2023 · 1 min read
US Housing Market Rapid Response Housing Starts (Jun.) Single-family starts fell back from their 11-month high in June, but remained substantially above the average seen in 2023 thus far as homebuilders remained optimistic. However with mortgage rates... 19th July 2023 · 2 mins read
US Commercial Property Update Uneasy outlook for global commercial property We have made only minor changes to our latest global forecasts which still imply that property will underperform other assets in the short to medium term. Further out, real estate returns are set to... 19th July 2023 · 3 mins read
