UK Commercial Property Rapid Response

Lending to UK commercial property (Nov. 25)

Net lending secured against commercial property accelerated again in November, reaching £2.49bn, the second strongest monthly increase since May 2020 when banks granted interest payment holidays.

5th January 2026 · 1 min read

UK Economics Rapid Response

UK Money & Lending (Nov. 2025)

November’s money and lending figures suggest that while the pre-Budget speculation about tax rises had little influence on households’ borrowing decisions, they were inclined to save a bit more.

5th January 2026 · 3 mins read

Japan Economics Update

Bank of Japan isn’t falling behind the curve just yet

We aren’t convinced that the Bank of Japan is falling behind the curve despite the recent acceleration in bank lending. Nonetheless, there are few signs that BoJ rate hikes are resulting in tighter...

5th January 2026 · 3 mins read

UK Housing Market Rapid Response

UK Nationwide House Prices (Dec. 2025)

December’s 0.4% m/m decline in Nationwide house prices rounds off a tough year for the housing market and suggests the combination of still-high mortgage rates and weak employment are still weighing...

2nd January 2026 · 3 mins read

Australia & New Zealand Economics Update

Australia’s housing rally will soon slow in earnest

Australia’s house price rally lost some steam in December and if we’re right that the Reserve Bank of Australia will lift interest rates as soon as February this slowdown has further to run.

2nd January 2026 · 3 mins read

US Commercial Property Office Metros Outlook

Plenty of rent gains left in top southern office markets

The office sector may be turning a corner, but there remain big differences in metro performance. Southern metros look set to dominate the winners, with Austin, Miami and Dallas coming out on top for...

30th December 2025 · 7 mins read

US Housing Market Rapid Response

US Case-Shiller/FHFA House Prices (Oct. 2025)

The healthy 0.3% m/m rise in house prices in October adds to evidence that the housing market has regained some momentum following the 75bp fall in mortgage rates earlier this year. Prices are now on...

30th December 2025 · 2 mins read

Europe Commercial Property Update

Are we too pessimistic about CEE retail rents?

So far CEE markets have proved more resilient to the slowdown in European retail rents. While risks still skew to the upside, we expect that CEE retail rent growth rates will slow further, with...

23rd December 2025 · 3 mins read

US Housing Market Rapid Response

US Existing Home Sales (Nov. 2025)

Existing home sales rose to a nine-month high of 4.13m annualised in November and should climb further in the coming months, as deals agreed when borrowing costs fell in the third quarter continue to...

19th December 2025 · 2 mins read

Canada Economic Outlook

Soft growth to keep Bank on pause in 2026

The labour market has bounced back from the US tariff shock, but uncertainty over CUSMA and lower immigration will hold back GDP growth, which we expect to average 1.2% in 2026 and 1.5% in 2027. Lower...

18th December 2025 · 13 mins read

UK Housing Market Chart Pack

UK Housing Market Chart Pack (Dec. 2025)

While housing activity and prices have been resilient to uncertainty ahead of the Budget and the subdued economic backdrop, there are few signs of a post-Budget rebound in buyer sentiment. If...

17th December 2025 · 1 min read

UK Commercial Property Chart Pack

UK Commercial Property Chart Pack (Dec. 25)

Rental growth has ended the year on a strong note, but with yields stable total returns are beginning to ease from their recent level of around 8% y/y. And with yields set to see little movement over...

17th December 2025 · 1 min read

Global Commercial Property Chart Pack

Global Commercial Property Chartpack (Q4 2025)

Global property returns have improved in 2025, though performance in APAC and the US has lagged Europe. This divergence is set to continue in 2026. However, we expect performance in the US will...

17th December 2025 · 0 mins read

APAC Commercial Property Update

Rental growth will help Japan defy the squeezed yield spread

Rising interest rates in Japan have raised concerns about whether this will slow investment activity and exert downward pressure on capital values. Our view is that while the risk-free rate will...

16th December 2025 · 3 mins read

Canada Economics Update

Canada Housing Watch (Dec. 2025)

The housing market weakened in November, with sales activity and house prices both recording declines. Even so, the further improvement in the sales-to-new-listing ratio raises our confidence that...

15th December 2025 · 4 mins read