US Commercial Property Update

Midwest outperformance will not last

More encouraging figures from the previously underperforming Midwest region suggest that it may be turning a corner. But while this may continue for several quarters more, there has not been enough...

9th April 2025 · 3 mins read

Canada Chart Pack

Canada Chart Pack (Apr. 2025)

While Canada escaped “liberation day” relatively unscathed, the imposition of US tariffs and risk of more to come will still weigh on exports, consumer confidence and investment. With immigration also...

9th April 2025 · 1 min read

UK Commercial Property Update

Market chaos puts upward pressure on UK commercial property yields

With the exception of some industrial assets, commercial property in the UK is not directly impacted by the higher tariffs announced by President Trump and property equities have performed relatively...

9th April 2025 · 4 mins read

UK Commercial Property Update

Answering key client questions from our roundtables on how the pandemic continues to shape real estate

Last week we held a series of roundtable discussions with clients in our London office about how the pandemic will shape real estate into the 2030s. This note shares our answers to some of the most...

8th April 2025 · 4 mins read

US Commercial Property Apartment Metros Outlook

US Apartment Metros Outlook: Houston best-placed for 2025-29 apartments recovery

The apartment market is on track to recover over our five-year forecast, with new supply falling back sharply, while demand remains solid. However, the size and speed of recovery will differ widely by...

7th April 2025 · 7 mins read

UK Housing Market Rapid Response

UK Halifax House Prices (Mar. 2025)

The 0.5% m/m fall in Halifax house prices in March provides further evidence that the boost from buyers rushing to complete home purchases before the rise in stamp duty on 1 st April had already run...

7th April 2025 · 3 mins read

UK Commercial Property Rapid Response

S&P Global/ CIPS UK Construction PMI (Mar. 25)

The headline CIPS construction PMI saw a small rise in March to 46.4, from 44.6 in February. But that still left the balance below 50 and consistent with a contracting construction sector.

4th April 2025 · 1 min read

UK Housing Market Update

Did the pandemic change where households are choosing to live?

The pandemic triggered an exodus from large cities in both the UK and US as households used the freedom of remote work to move to cheaper locations with larger homes. In the rental market, that trend...

3rd April 2025 · 6 mins read

UK Housing Market Chart Pack

UK Housing Market Chart Pack (Apr. 2025)

The easing in house price growth in both February and March suggests momentum in the housing market is waning. What’s more, as we now think the Bank of England will press pause on the interest rate...

2nd April 2025 · 1 min read

Europe Commercial Property Focus

Large variation in long-term office demand prospects across the euro-zone

Five years since the onset of the pandemic, the share of remote working in the euro-zone has generally increased by more than we had expected back in 2020. But office-based employment growth has also...

2nd April 2025 · 11 mins read

UK Housing Market Rapid Response

UK Nationwide House Prices (Mar. 2025)

The stagnation in Nationwide house prices in March suggests any boost from buyers rushing to complete home purchases ahead of the rise in stamp duty from today may have run its course and/or been...

1st April 2025 · 3 mins read

Australia & New Zealand Economics Update

RBA rate cuts won’t do much for housing affordability

Australian house price growth remained soft in March, amid still-weak housing demand. Although the RBA’s easing cycle could help deliver a shift in momentum later this year, stretched affordability is...

1st April 2025 · 3 mins read

UK Economics Rapid Response

UK Money & Lending (Feb. 2025)

February’s money and lending figures provide some green shoots of households starting to save less and spend a little more freely. But one month doesn’t make a trend and GDP growth will probably...

31st March 2025 · 3 mins read

UK Commercial Property Rapid Response

Lending to UK commercial property (Feb. 25)

Net lending to property continued its recent run of strength in February, with total lending of £1.58bn up from £917m in January and the highest monthly figure since May 2020.

31st March 2025 · 1 min read

Canada Economic Outlook

Canada Outlook: Tariffs to push Canada into recession

We have raised our assumption for the average US tariff rate that Canadian exporters will face, to a level that will likely push the economy into recession. The downturn should be only moderate if, as...

27th March 2025 · 15 mins read