US Housing Market Update Renting to remain substantially cheaper than buying As mortgage rates fall, we think the difference between the cost of buying and renting will narrow from the current all-time highs. But even by 2026, renting will remain by far the more cost-effective... 25th March 2024 · 3 mins read
US Commercial Property Outlook A tough year in store, but retail returns will be positive This year is being flagged by many as the year the recovery starts, but there is still a substantial amount of pain (and value falls) to come. We think activity will gradually pick up in H2, but... 22nd March 2024 · 22 mins read
Europe Commercial Property Outlook Further value falls to come, but should reach trough in H2 Further near-term yield rises will push property values lower in the coming quarters, but better valuations, falling interest rates and improving economic activity suggest a trough should be reached... 21st March 2024 · 31 mins read
UK Commercial Property Chart Pack UK Commercial Property Chart Pack (Mar. 24) All-property total returns have turned the corner, with a month-on-month rise in January and February. Rental growth is set to continue to ease, but yields are close to a peak and that will remove the... 19th March 2024 · 1 min read
Europe Commercial Property Update Rents rising but a retail renaissance in 2024 is unlikely The revival of prime retail rental growth in 2023 ended a three-year rental decline for the sector. This likely marks the end of retail’s rental woes and we have nudged up our prime rent forecast for... 14th March 2024 · 3 mins read
US Commercial Property Update Nashville, Jacksonville and Austin top for remote workers Our updated remote worker preference scores again highlight Nashville as the most attractive metro for remote workers, while San Jose is the least attractive. The winners continue to be predominantly... 13th March 2024 · 5 mins read
UK Commercial Property Update Online share developments not all bad news The online share of retail sales is still above its pre-pandemic trend, but a closer look suggests that is perhaps not as bad for the retail sector as it looks. For example, the share of online... 13th March 2024 · 4 mins read
Europe Commercial Property Update Peak in yields is near, but little scope for compression Improved valuations suggest that the price correction in prime property is almost done. However, with little scope for bond yields in continental Europe to fall from here and property-to-bond yield... 13th March 2024 · 3 mins read
UK Commercial Property Update IPF Consensus Forecasts (Mar. 24.) The latest IPF Consensus Survey shows that forecasters have upwardly revised their 2024 expectations, which are now more in line with our view. Stronger rental growth help drive that improvement and... 8th March 2024 · 3 mins read
Event Property Drop-In: US CRE Outlook – When’s the recovery? 1710860400 US commercial real estate prices may have fallen 15% from their peaks – led by a 30% plunge in office values – but this isn’t over.
UK Commercial Property Rapid Response S&P Global/ CIPS Construction PMI (Feb. 24) The headline CIPS construction PMI rose to 49.7 in February, just under the no change level. The rise was driven by the housing component, with commercial activity edging back a touch. As interest... 6th March 2024 · 2 mins read
US Commercial Property Update Investment activity unlikely to improve in 2024 Commercial real estate investment saw its worst year in over a decade last year. Most brokers seem to expect a recovery in investment activity this year as the Fed cuts interest rates and distressed... 5th March 2024 · 3 mins read
Europe Commercial Property Update Drop back in office completions to support prime rents Completions in Europe are set to increase over the next year or so as construction delays unwind, which will contribute to rising vacancy. However, we expect the upward pressure from supply to ease... 5th March 2024 · 3 mins read
UK Commercial Property Focus Why this will be the slowest global recovery on record Relatively high interest rates and structural problems within offices will weigh on the commercial real estate recovery over the next three years. Indeed, we forecast the upturn will be weaker than in... 4th March 2024 · 21 mins read
Event CRE Drop-In: Unpacking the slowest commercial real estate recovery on record 1710257400 The recovery that we’re forecasting for the US, UK and euro-zone commercial property markets is likely to be the weakest on record.
Europe Commercial Property Update Germany not the only source of debt distress in Europe Recent media attention has focused on the downturn in Germany and the travails of its lenders exposed to the crash in property values both domestically and in the US. While the focus on Europe’s... 1st March 2024 · 3 mins read
