US Commercial Property Data Response NCREIF Property Index (Q1 2022) Total returns on the NCREIF index were strong again in Q1, at 5.3% q/q. That was led by industrial, where they reached 11% q/q, with apartments at just over 5% and the other sectors all lagging at... 26th April 2022 · 3 mins read
China Economic Outlook No quick fix this time China’s economy rebounded sharply from the initial COVID-19 outbreak. The recovery will be slower and more muted this time, even if the ongoing COVID outbreak is successfully quashed, as less policy... 26th April 2022 · 21 mins read
US Commercial Property Update Divergence in regional mall performance set to persist The squeeze on consumer incomes points to a tough couple of years ahead for regional and super-regional malls, which tend to be more reliant on discretionary spending than other retail property types... 22nd April 2022 · 3 mins read
UK Commercial Property Chart Pack Retail yield compression surprises in March The latest monthly MSCI figures indicate that commercial property is holding up well. Rental growth rose further in March, while annual total returns matched July 2010 levels, which were the highest... 22nd April 2022 · 7 mins read
UK Housing Market Chart Pack Pick up in London demand will be fleeting Despite the permanent increase in working from home, the end of pandemic restrictions has triggered a resurgence in demand in London’s rental and house purchase markets. Annual inflation in the ONS... 22nd April 2022 · 6 mins read
Europe Commercial Property Update Completion delays prolong Budapest office market dip Past delays in development projects mean that office completions will exceed demand in Budapest this year and next. As such, having held broadly steady in 2021, office vacancy is set to rise again and... 22nd April 2022 · 3 mins read
Europe Commercial Property Update There is still likely to be a reckoning for offices We think the recent upturn in office market performance is largely down to the one-off release of pent-up demand and remain downbeat about future prospects. With occupancy still languishing and remote... 21st April 2022 · 6 mins read
US Housing Market Update Can cash buyers keep house prices booming? Rising mortgage interest rates and tight credit conditions pushed the cash buyer share of existing home sales to a six-year high in March. But while the cash buyer share and house price growth are... 21st April 2022 · 3 mins read
Australia & New Zealand Chart Pack Central Bankers’ confidence dilemma Inflation is surging in both Australia and New Zealand. That is putting pressure on central banks to hike interest rates to slow the economy and curb inflation. But both the RBNZ and the RBA... 21st April 2022 · 11 mins read
US Housing Market Data Response Existing Home Sales (Mar.) Surging mortgage interest rates pushed March existing home sales down to their lowest since the height of COVID-19-restirctions in mid-2020. We expect mortgage rates to rise further over the next year... 20th April 2022 · 2 mins read
Australia & New Zealand Economics Update Australia - Government support won’t prevent housing downturn The expansion of the government’s “Home Guarantee Scheme” will only result in a modest boost to housing demand. And with affordability set to worsen sharply as the RBA hikes interest rates, it won’t... 20th April 2022 · 3 mins read
US Housing Market Data Response Housing Starts (Mar.) Housing starts rose a by a marginal 0.3% m/m in March, driven by the volatile multifamily sector. Single-family starts saw a small fall, as did building permits. While we expect new home demand to be... 19th April 2022 · 2 mins read
UK Housing Market Update Builders cautious despite strong demand Despite facing very strong demand housebuilders appear reluctant to commit to new sites. This is because a shortage of materials is delaying completions, while rising interest rates and the end of the... 19th April 2022 · 2 mins read
China Data Response China GDP (Q1), Activity & Spending (Mar.) Official GDP growth beat expectations last quarter but it still slowed in q/q terms. In practice, the figures probably understate the slowdown. And growth looks set to be even weaker in Q2 given the... 18th April 2022 · 3 mins read
UK Commercial Property Data Response Credit Conditions Survey (Q1 2022) Banks expect mortgage availability to fall back in Q2 as lenders push up borrowing rates to reflect increases in Bank Rate, but other lending criteria are expected to be stable or loosen. 14th April 2022 · 2 mins read
Europe Commercial Property Update Bright outlook for Belgium industrial rents While economic growth is forecast to slow, limited supply and further strong growth in e-commerce-related demand mean Belgium industrial rental growth is expected to outperform its pre-pandemic... 14th April 2022 · 3 mins read
