Australia & New Zealand Economics Update

Australia’s housing downturn has further to run

Australian house prices continued to decline in June, and we think they won’t bottom out until early next year. Although much ink has been spilt about recent housing tax changes, they have yet to have...

1st July 2026 · 3 mins read

US Housing Market Rapid Response

US Case-Shiller/FHFA House Prices (Apr. 2026)

Pause in house price falls will be temporary The unchanged level of house prices in April was a slightly better result than we had been predicting and reinforced our view that a sustained downturn in...

30th June 2026 · 2 mins read

UK Commercial Property Rapid Response

Lending to UK commercial property (May 26)

Net lending to commercial property totalled around £1.5bn in May, following a similar outturn in April. This was consistent with the rise in uncertainty and interest rates as a result of the Iran war...

29th June 2026 · 1 min read

UK Housing Market Chart Pack

UK Housing Market Chart Pack (Jun. 2026)

The continued weakness in some leading indicators of buyer sentiment suggests that the risks to our view that house prices will rise by 1.5% in the year to Q4 2026 lie to the downside. However, if...

29th June 2026 · 1 min read

China Chart Pack

China Chart Pack (June 2026)

China’s economy is growing at a slower rate than the official figures show, but growth has held steady at around 3% for the past year. Exports continue to surge on the back of strong global demand for...

26th June 2026 · 1 min read

Australia & New Zealand Economics Weekly

RBA still set to hike, housing tax changes pass

Australia’s latest activity and labour market data continue to point to softer momentum, but the CPI figures suggest that underlying inflation pressures have not yet been tamed. Accordingly, we still...

26th June 2026 · 4 mins read

Global Commercial Property Update

Key takeaways from our alternative assets roundtables

This week we held a series of roundtable discussions with clients in our London office about the outlook for alternative real estate assets. This note shares our answers to some of the most...

25th June 2026 · 3 mins read

Australia & New Zealand Economic Outlook

Central banks to hike as inflation concerns dominate

The RBA has already shifted policy back to restrictive territory and we expect it to tighten settings a bit further, as it seeks to ensure that activity slows sufficiently to bring inflation under...

25th June 2026 · 20 mins read

Global Commercial Property Update

Data centres to perform well, but risks are growing

New MSCI coverage of data centres in the UK and US not surprisingly show the sector strongly outperformed over the past decade. But while returns are still strong in the US, in the UK the sector is...

18th June 2026 · 4 mins read

Europe Commercial Property Update

Near-term downgrade to industrial, but long-term outlook solid

Weak economic activity in the near term will push euro-zone industrial rental growth to its slowest pace in more than a decade this year. However, we expect rental growth to return to an above-average...

18th June 2026 · 3 mins read

Canada Economics Update

Housing Watch (Jun. 2026)

The housing market showed firmer signs of improvement in May and, with oil prices dropping back sharply in the past week, there is now a lower chance that the Bank of Canada will be forced to spoil...

16th June 2026 · 4 mins read

US Housing Market Rapid Response

US Housing Starts (May 2026)

Looking past the volatility in multifamily starts, the latest batch of data suggest the housing market is just about weathering the latest rise in mortgage rates.

16th June 2026 · 1 min read

US Commercial Property Rapid Response

US Commercial Property Lending (May)

Net lending by banks to commercial real estate in May reached its highest level since December 2025, at $15.4bn. Both multifamily and other commercial sectors saw their highest monthly net lending...

15th June 2026 · 2 mins read

Australia & New Zealand Economics Weekly

A cooling housing market but the RBA’s job isn’t done

Australian consumers remain deeply pessimistic, particularly about the housing market, with house price expectations falling to a three-year low and auction clearance rates continuing to weaken. Even...

12th June 2026 · 5 mins read

UK Commercial Property Update

High costs mean low development and falling UK land prices

The Iran war looks set to boost commercial construction costs by at least 8%, on top of the 24% rise seen since 2021. With commercial capital value growth also coming under pressure as interest rates...

11th June 2026 · 4 mins read