UK Commercial Property Update Has the Budget derailed the CRE recovery? We doubt the sell-off in gilts following the Budget will gather momentum and cause another step down in commercial property values. However, given the current narrow spread between risk-free interest... 31st October 2024 · 3 mins read
UK Commercial Property Update RICS survey highlights uneven nature of recovery The Q3 RICS commercial survey painted a somewhat mixed picture of the market. There was a slight improvement in investment and capital value expectations, but rental expectations were revised down... 31st October 2024 · 3 mins read
Event CRE Drop-In: The residential outlook – Europe vs the US and the case for outperformance 1731423600 Residential’s growing share of investor portfolios speaks to the buzz around its potential to keep providing outsized returns. But will residential continue to deliver?
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
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
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
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 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 Commercial Property Update What could a Trump win mean for commercial real estate? On the back of client questions, we have put together this short primer on the potential impact of a second Trump term on commercial real estate markets, both in the US and elsewhere. The key takeaway... 7th October 2024 · 4 mins read
UK Commercial Property Rapid Response S&P Global/CIPS Construction PMI (Sep 24) The headline CIPS construction PMI rebounded to a 2½ year high of 57.2 in September as the prospect of lower interest rates, rising capital values and a government committed to boosting home... 4th October 2024 · 1 min read
Global Commercial Property Chart Pack Global Commercial Property Chartpack (Q3 2024) All-property values have stabilised in the UK but we expect further falls elsewhere, especially in the US. Combined with a weaker office outlook, the US is set to underperform over the next couple of... 2nd October 2024 · 0 mins read
UK Commercial Property Rapid Response Lending to commercial property (Aug. 24) Net lending to property reached £1.26bn in August, up from £520m the previous month. While lending to standing assets was responsible for the lion’s share of the increase, lending for development was... 30th September 2024 · 1 min read
Europe Commercial Property Outlook Industrial to outperform as muted recovery gets underway After two disappointing years, commercial property values have stabilised. However, the recovery is set to be weak. We think yield falls in the coming years will be small compared to previous... 23rd September 2024 · 28 mins read
UK Commercial Property Chart Pack UK Commercial Property Chart Pack (Sep. 24) Yields have now peaked in most sectors and capital values are close to bottoming out. However, with not much prospect for yield compression the recovery will be weak by past standards. Thanks to... 19th September 2024 · 1 min read
US Commercial Property Outlook Apartments to top the charts with total returns of 9.5% p.a. There are tentative signs of improvement in the investment market, but we continue to think refinancing requirements will weigh on transactions. We still think appraisal-based valuations need to... 12th September 2024 · 21 mins read
