APAC Commercial Property Outlook

Narrow yield spreads to limit size and speed of the recovery

Asia-Pacific property faces a slow, uneven recovery as high risk-free rates and weak growth limit investment demand and therefore, prospects for yield-driven capital gains. Spreads over risk-free...

2nd December 2025 · 18 mins read

US Housing Market Chart Pack

US Housing Market Chart Pack (Nov. 25)

The Fed looks set to cut interest rates again in December, but we think investors are too optimistic about further easing next year. We expect only one 25bp cut in 2026, compared with roughly 75bp of...

1st December 2025 · 1 min read

Europe Economics Focus

ECB interest rates cuts doing little to boost growth

Aside from the monetary loosening undertaken by the ECB at the beginning of the global financial crisis, its interest rate cuts from mid-2024 to mid-2025 were the deepest over a 12-month period in its...

1st December 2025 · 15 mins read

UK Commercial Property Rapid Response

Lending to UK commercial property (Oct. 25)

At £1.47bn, net lending to commercial property softened again in October, from the £1.65bn recorded in September. That pushed the three-month total down to £5.7bn, the lowest level since June.

1st December 2025 · 2 mins read

China Economics Update

Six non-consensus calls for China for 2026

Almost everyone expects real economic growth in China to slow next year. But most forecasters think the picture will brighten in nominal terms thanks to a rebound in inflation and a bottoming out of...

1st December 2025 · 8 mins read

Australia & New Zealand Economics Update

Are first-time buyers fuelling the house prices rally?

The less stringent criteria for accessing the government’s support scheme for first-time home buyers hasn’t noticeably boosted overall housing demand. Indeed, the key constraint remains extremely...

1st December 2025 · 3 mins read

Australia & New Zealand Economics Update

Australian housing can’t buck its affordability problem

Australia's house price growth picked up further in November and leading indicators suggest the rally has further to run. However, with the RBA unlikely to lower interest rates any further, mortgage...

1st December 2025 · 3 mins read

China Economics Weekly

Waning support for developers may drag on construction

Vanke's plan to delay repayment of an onshore bond points to fading state support for non-SOE developers. The risk this poses to financial stability is probably manageable. But it threatens to...

28th November 2025 · 6 mins read

Middle East & North Africa Economics Weekly

Dubai real estate, Bahrain-Oman public finances, Egypt rates

The surge in prices in Dubai’s real estate sector appears to be prompting developers to take on debt to finance new projects. This echoes events prior to the crisis in 2009, but a re-run seems...

27th November 2025 · 6 mins read

US Commercial Property Valuation Monitor

US Commercial Property Valuation Monitor (Q4 2025)

Property edged into fair value territory in Q3, extending recent improvements, despite real estate yields moving lower. This will help support investment ahead, though we think appraised cap rates...

26th November 2025 · 1 min read

UK Commercial Property Outlook

UK Commercial Property Outlook: Higher gilt yields and taxes to weigh on recovery

With the 10-year gilt yield now set to be higher for longer and the Budget likely to raise taxes on households, the outlook for commercial property has become a bit gloomier. We now expect total...

25th November 2025 · 26 mins read

US Housing Market Rapid Response

US Case-Shiller/ FHFA House Prices (Sep 2025)

The 0.1% m/m rise in house prices in September matched August’s modest gain, and points to a tentative house price recovery from here. We are predicting that a pick-up in demand paired with nagging...

25th November 2025 · 2 mins read

Europe Commercial Property Update

2026 looking brighter for European property investment

The muted, uneven recovery in European investment continued in Q3, with indicators suggesting this will persist in Q4. The outlook for 2026 looks brighter, with lower interest rates providing a key...

25th November 2025 · 3 mins read

Europe Commercial Property Chart Pack

Europe Commercial Property Chart Pack (Q4 2025)

Softening rental growth and steady yields weighed on capital value growth in many markets in Q3. And this is likely to continue, with our Capital Value Lead Indicator pointing to a further slowdown in...

24th November 2025 · 0 mins read

UK Housing Market Update

Mansion tax may not be as big as previously feared

An average annual council tax surcharge in the Budget on 26 th November of possibly around £2,000 for owners of the most expensive homes may be only a modest drag on activity and prices at the top end...

21st November 2025 · 3 mins read