Europe Commercial Property Chart Pack Euro-zone all-property returns total almost 9% in 2021 Euro-zone commercial property markets ended 2021 on a stronger note. Prime rental growth picked up in the office and industrial sectors, while retail rents held steady for the third consecutive... 17th February 2022 · 9 mins read
Middle East & North Africa Economics Update Saudi mortgage boom brings new risks Mortgage lending in Saudi Arabia has ramped up sharply in recent years as the government has tried to push up homeownership among Saudi nationals. This has not provided much of a boost to property... 15th February 2022 · 5 mins read
UK Housing Market Update Higher rates will leave homes overvalued Our new, higher interest rate forecast suggests that mortgage rates will climb to an eight-year high in 2023, making house prices look expensive by historical standards. But the overvaluation won’t be... 15th February 2022 · 3 mins read
US Commercial Property Data Response Commercial Property Lending (Jan.) Commercial real estate debt growth slowed in January, although that still left it at a decent level. At this stage it is difficult to be sure whether slowing growth indicates a slower pace of... 14th February 2022 · 2 mins read
Europe Commercial Property Update Will prime rents offer inflation protection? Our forecasts suggest that prime all-property rental growth across the main euro-zone markets is likely to keep pace with inflation in the coming years. However, this is more of a reflection of... 14th February 2022 · 3 mins read
Europe Commercial Property Update Investment activity to show further strength in 2022 After a record-breaking 2021, survey evidence points to a strong start to the year for pan-European (excluding UK) investment volumes. With pent-up demand mostly exhausted, we expect transactions to... 11th February 2022 · 3 mins read
Europe Commercial Property Update Global property returns not expected to defy gravity The exceptionally strong rebound in commercial property returns has been clear from the middle of last year. While this came earlier than most expected, we think it reflected special conditions and... 11th February 2022 · 3 mins read
UK Housing Market Update Rental growth on the launchpad We already expected that rental growth would surge to a decade-high this year. But the strength of leading indicators and the low level of rents relative to income by historical standards suggest... 11th February 2022 · 3 mins read
US Housing Market Update Do not conflate real assets with inflation hedges We believe the link between real estate cashflows and inflation to be overplayed, a view that is backed up by the evidence of the last 44 years. But there are exceptions. One of which is low vacancy... 10th February 2022 · 4 mins read
US Housing Market Update Ballooning mortgage size not a risk to the market The average home purchase mortgage size has ballooned over the past couple of years, but a concurrent rise in down payments will protect lenders from all but the most severe of house price shocks... 10th February 2022 · 3 mins read
UK Housing Market Data Response RICS Residential Market Survey (Jan.) The largest rise in new buyer enquiries for nine months and a reversal of the December dip in sales volumes confirmed that the housing market remained extremely tight at the start of the year. With no... 10th February 2022 · 2 mins read
UK Commercial Property Valuation Monitor Valuations worsen as property yields continue to fall Property valuations, compared to bonds and equities, deteriorated for a fourth consecutive quarter in Q4. The spread between the asset classes narrowed as the magnitude of the fall in all-property... 9th February 2022 · 6 mins read
US Housing Market Chart Pack House price and rental growth to ease in 2022 House prices and rents both boomed in 2021, but are set for a quieter 2022. Mortgage rates are now rising and we expect the 30-year rate will end the year at around 4%. Combined with the rise in house... 8th February 2022 · 9 mins read
UK Housing Market Data Response Halifax House Prices (Jan.) The smaller gain in house prices in January reported by Halifax is unlikely to mark the start of a sharp deceleration in house price growth. With the supply of homes for sale still very limited and... 7th February 2022 · 2 mins read
UK Housing Market Outlook House price gains have further to run It is likely to take longer than most expect for rising interest rates to cool the housing market. Mortgage rates have only just begun to rise from the record low reached in November, and limited... 4th February 2022 · 22 mins read
UK Commercial Property Data Response IHS Markit/CIPS Construction PMI (Jan.) In contrast to the decline at the end of last year, the construction PMI rose to its highest level in six months in January. There were also encouraging signs that supply and cost issues have started... 4th February 2022 · 2 mins read
