US Housing Market Data Response New Home Sales (Apr.) New home sales recovered to close to pre-pandemic levels in April as a lack of existing homes for sale pushed buyers to the new build sector. But still-stretched affordability and a weakening economy... 23rd May 2023 · 2 mins read
US Commercial Property Chart Pack Weak Q1, but bigger price falls to come in Q2 The economy has been relatively resilient so far, but with the banking turmoil set to weigh on activity, we continue to expect a recession this year. Slower growth has already translated to softer... 19th May 2023 · 10 mins read
Europe Commercial Property Chart Pack Capital value falls slow, but further weakness ahead Capital value falls slowed in Q1 as the surge in euro-zone all-property yields cooled. But, with rent growth decelerating across all sectors, the increase in yields was still enough to drive another 4... 19th May 2023 · 10 mins read
US Housing Market Data Response Existing Home Sales (Apr.) Existing home sales fell back towards their recent lows in April, not helped by a very tight inventory. The high cost of a new mortgage is acting to discourage homeowners with a low fixed-rate... 18th May 2023 · 2 mins read
UK Housing Market Update Longer mortgage terms ease affordability constraints Borrowing over a longer period significantly reduces monthly mortgage payments. So the accelerated shift towards loans with a term of 35 or 40 years rather than 25 has probably helped to mitigate the... 15th May 2023 · 3 mins read
Europe Commercial Property Update Could the investment downturn reach GFC-lows? The slowdown in European investment intensified in Q1 as transactions more than halved year-on-year. This was perhaps unsurprising given the ongoing price correction amid one of the sharpest... 28th April 2023 · 3 mins read
UK Housing Market Update Takeaways from our housing roundtables Alongside the publication of our Q2 UK Housing Outlook this week, we held a series of roundtable meetings for clients in London. Here we sum up our thoughts on three key questions which recurred... 28th April 2023 · 4 mins read
US Housing Market Update Recession to weigh on housing recovery The housing market will face growing headwinds from tighter credit conditions, slowing income growth and rising unemployment as the economy enters a recession this year. That will offset some of the... 27th April 2023 · 3 mins read
US Housing Market Data Response Existing Home Sales (Mar.) Existing home sales edged lower in March rounding off the weakest start to the year in over a decade. While the lending data point to further declines in April, we expect mortgage rates will fall back... 20th April 2023 · 2 mins read
UK Commercial Property Update London office capital values can’t deny gravity forever London office capital values fell by a relatively modest amount in the second half of last year and monthly data show values stabilised in the first two months of 2023. But that has left London office... 5th April 2023 · 3 mins read
UK Commercial Property Chart Pack Yields stabilise, but banking crisis may slow recovery Yields have stabilised since the start of the year, with the 8bps rise in equivalent yields over January and February much smaller than the 64bps increase over the final two months of 2022. And with... 30th March 2023 · 8 mins read
Non-Euro Europe Commercial Property Chart Pack Scandinavia & Switzerland: Values fall further The rise in prime property yields accelerated in Q4. Despite gains in all-property rents in most markets, this meant capital values fell across all sectors. Declines were particularly sharp in offices... 24th February 2023 · 5 mins read
US Housing Market Data Response Existing Home Sales (Jan.) The marginal decline in existing home sales in January supports our view that housing market activity is reaching a trough. But growing economic headwinds and stretched affordability mean sales will... 21st February 2023 · 2 mins read
US Commercial Property Chart Pack Price correction gathering pace While the recent economic data have surprised on the upside, property market indicators were broadly worse than expected in Q4. Occupier demand softened, particularly in the office and apartment... 17th February 2023 · 9 mins read
US Housing Market Outlook Slow recovery in sales and further falls in prices Housing market activity is likely to recover only gradually from its current lows, which means we think 2023 will be the weakest year for sales since 2012. Affordability will remain stretched by past... 10th February 2023 · 18 mins read
Europe Commercial Property Update Hawkish ECB will weigh on euro-zone investment Euro-zone investment contracted sharply in Q4 2022 and we think further interest rate rises will prolong this weakness throughout much of this year. But we expect a recovery in transactions towards... 27th January 2023 · 3 mins read
