Europe Commercial Property Update French residential property returns to lag the pack Softer rental prospects, less scope for yields to fall and lower income returns look set to weigh on French residential property returns compared to Germany, the UK and the US in the coming years. 29th October 2024 · 3 mins read
UK Commercial Property Rapid Response Lending to commercial property (Sep. 24) Net lending to property totalled £1.33bn in September, essentially unchanged from the previous month. 29th October 2024 · 1 min read
US Commercial Property Update ‘Extend and pretend’ still ongoing for some banks The NCREIF Q3 index posted a positive return for the first time in two years, with only offices recording a negative outturn. But with firmer evidence that poorly capitalized banks have been less... 28th October 2024 · 3 mins read
UK Commercial Property Chart Pack UK Commercial Property Chart Pack (Oct. 24) Capital values are now recovering and, notwithstanding a recent rise in interest rates, will continue to do so. However, with not much prospect for yield compression the recovery will be weak by past... 24th October 2024 · 1 min read
Europe Commercial Property Update Dutch EPC evidence highlights risk from stranded assets There is growing concern about how the green transition may create stranded real estate assets, impacting negatively on both lenders and investors. We can get some idea of the scale of the problem in... 23rd October 2024 · 4 mins read
Europe Commercial Property Focus What is the outlook for German residential? Poor economic growth and vulnerability to structural change in the office and retail sector are set to weigh on German property returns in the coming years. But solid rental prospects in the... 23rd October 2024 · 14 mins read
UK Commercial Property Update Are we underestimating the capital value recovery? The strong recovery in property equities prices across the UK, euro-zone and US implies larger rises in commercial property capital values by the end of the year than we are currently forecasting... 22nd October 2024 · 3 mins read
US Commercial Property Update Alternatives set to account for above 20% of investment Alternatives have grown in importance in portfolios in recent years and structural drivers including AI, an aging population and poor housing affordability point to further growth in occupier demand... 22nd October 2024 · 4 mins read
US Commercial Property Update Apartment performance to top consensus estimates Upward revisions by the ULI consensus mean our forecasts remain more downbeat over the next couple of years. However, this is largely down to our weaker view on industrial, while our forecasts for the... 21st October 2024 · 3 mins read
US Housing Market Rapid Response Housing Starts (Sep. 2024) The small fall in housing starts in September was entirely due to the multi-family segment, whereas single-family starts rose to a five-month high. While starts will probably weaken this month due to... 18th October 2024 · 2 mins read
Europe Commercial Property Update Dutch logistics will continue to outperform Dutch prime logistics rent growth is set to be among the highest in the region over the next few years. That reflects both strong prospects for leasing, thanks to a bright economic outlook and greater... 17th October 2024 · 3 mins read
UK Commercial Property Update All signs point to capital value recovery Surveys of banks, developers and surveyors all point to a recovery in capital values over the next few months. As does the behaviour of investors. The strength of that recovery is more uncertain, with... 16th October 2024 · 4 mins read
US Commercial Property Update Consumer spending outlook bodes well for industrial rents Industrial’s shift toward logistics means consumer-focused economic variables have become important drivers of rental growth. Admittedly, employment growth is set to slow. But a combination of... 15th October 2024 · 3 mins read
US Commercial Property Rapid Response Flagging previous climate risk notes In light of both Hurricanes Helene and Milton we are flagging notes where we highlighted the physical climate risks facing the US. 14th October 2024 · 1 min read
US Housing Market Outlook Lower mortgage rates to gradually thaw frozen market We expect mortgage rates to continue falling, dropping below 6% in 2026. Lower borrowing costs will breathe some life into the market, but stretched affordability and tight supply due to mortgage rate... 10th October 2024 · 14 mins read
Europe Commercial Property Update Rental growth to converge in Spain’s top high streets Prime high street rental growth in Barcelona has outpaced Madrid since late 2022. However, we think rental growth will converge in the coming years as tourism numbers fall back to pre-pandemic levels... 10th October 2024 · 3 mins read
