UK Commercial Property Data Response Lending to commercial property (Jul.) The fall in July’s net lending total was the fastest drop since last July. As investment activity remained healthy and the economic recovery remains solid, it is likely that lenders restricted further... 31st August 2021 · 2 mins read
UK Commercial Property Outlook Slow and uneven revival to continue The economic recovery has lost some momentum over the summer, but we expect that this will be a temporary setback and the backdrop will be strong into the medium term. There is growing evidence of a... 25th August 2021 · 26 mins read
UK Commercial Property Valuation Monitor Slight worsening in property valuations On our measure, property looked slightly worse value relative to bond and equities in Q2. The worsening was due to a marked fall in property yields, driven by the industrial sector. Outside of over... 16th August 2021 · 6 mins read
UK Markets Economy and policy to provide a bit less support The recent downward revision to our GDP growth forecasts and the recent hawkish signs from the Bank of England which prompted us to bring forward our forecast of when monetary policy will be tightened... 9th August 2021 · 12 mins read
UK Commercial Property Data Response RICS Construction Market Survey (Q2) The latest RICS survey confirmed that construction activity rose strongly in Q2 and suggests expectations are upbeat about the outlook. But while we think output is likely to remain strong in the... 5th August 2021 · 2 mins read
UK Commercial Property Data Response IHS Markit/CIPS Construction PMI (Jul.) July’s construction PMI figure was slightly disappointing compared with the previous month’s highs. But it continued to point to robust activity and we think any dip is most likely a reflection of... 5th August 2021 · 2 mins read
UK Commercial Property RICS Commercial Property Market Survey (Q2) Surveyors indicated that both occupier demand and investment enquiries improved in Q2 on the back of stronger industrial activity. Looking ahead, expectations for office and retail values are less... 29th July 2021 · 2 mins read
UK Commercial Property Lending to commercial property (June) As the economic recovery gathers pace, lenders have been less willing to grant further payment holidays to landlords and a rise in repayments probably explains the sharp decline in net lending in June... 29th July 2021 · 2 mins read
UK Commercial Property Chart Pack Strong momentum not expected to last The acceleration in all-property capital growth in June reflected a sharp fall in yields and strong rental growth. But, even as a fast economic rebound boosts occupier demand in the coming months, we... 23rd July 2021 · 7 mins read
UK Commercial Property Supermarkets highly priced but for good reason The supermarket yield spread to “all-retail” has grown to almost the level it reached in 2009. However, we think there are good reasons for this. Admittedly there are risks ahead for the sector that... 22nd July 2021 · 3 mins read
UK Housing Credit Conditions Survey (Q2 2021) A further easing of concerns about the outlook for property prices and the economy suggests that mortgage lending conditions will continue to improve. That will help ensure that house prices are... 15th July 2021 · 3 mins read
UK Commercial Property Update South East office rents still have further to fall Although we expect the economic outlook will continue to improve, we think that South East office rents will still edge lower this year. What’s more, we don’t expect much of a rebound in 2022, as a... 7th July 2021 · 3 mins read
UK Housing IHS Markit/CIPS Construction PMI (Jun.) Despite a further deterioration in the availability of building materials, construction output rose at the fastest pace since 1997 in June. That suggests output in the sector is now well above pre... 6th July 2021 · 2 mins read
UK Commercial Property Data Response Lending to commercial property (May.) After falling sharply in April, net lending rose in May. We think this can be explained by the extension of payment holidays rather than an increase in new loans. Further ahead, we expect a weak... 29th June 2021 · 2 mins read
UK Commercial Property Update Weak starts to limit construction after 2021 We think that delayed Central London office projects and new industrial starts will drive commercial construction output this year. But once the backlog of delayed projects has been exhausted, we... 24th June 2021 · 3 mins read
UK Commercial Property Chart Pack Reopening supports gradual property revival The improvements in all-property rents and capital values continued in May, supporting our view that we are at the start of a slow recovery in property. Looking ahead, with non-essential retail and... 18th June 2021 · 7 mins read
