US Commercial Property Update

Tariff upheaval not expected to derail industrial upturn

The recent court ruling on tariffs has put industrial demand back in the spotlight. Our view is that not enough has changed yet to make wholesale revisions to our short-term view and that, beyond this...

4th June 2025 · 3 mins read

US Housing Market Rapid Response

US Mortgage Applications (May 2025)

The rise in home purchase mortgage applications in May still leaves them just shy of where they were in January and very low by historical standards, supporting our view that homebuying activity will...

4th June 2025 · 1 min read

Europe Commercial Property Update

Dublin offices at a turning point, though tariff risks remain

While tariff risks remain, the recent improvement in demand and weaker supply pipeline suggest the Dublin office market has reached a turning point. However, we don’t expect prime rental growth to...

4th June 2025 · 3 mins read

UK Economics Rapid Response

UK Money & Lending (Apr. 2025)

April’s money and lending figures provided little indication that the US trade war and the deteriorating jobs market prevented consumers’ willingness to borrow and spend from rising. This supports our...

2nd June 2025 · 3 mins read

UK Housing Market Rapid Response

UK Nationwide House Prices (May 2025)

May’s 0.5% m/m increase in Nationwide house prices adds to the evidence that the recent soft patch for the housing market was a temporary blip rather than a longer-lasting downturn as a result of the...

2nd June 2025 · 3 mins read

Australia & New Zealand Economics Update

Australia in store for a tepid housing rebound

Australian house prices edged up a notch in May, and leading indicators suggest they will gather further momentum over the coming months. However, with debt-servicing costs set to remain onerous...

2nd June 2025 · 3 mins read

US Commercial Property Chart Pack

US Commercial Property Chart Pack (Q2 2025)

All-property capital values edged up by 0.1% in Q1, marking the first increase since mid-2022. Meanwhile, appraisal-based cap rates were flat after compressing by a slight margin in Q4 2024. We still...

30th May 2025 · 1 min read

UK Housing Market Update

Softening in UK housing market will only be temporary

Leading indicators suggest most of the recent weakness in housing demand and prices is due to the temporary influence of the change in stamp duty rather than any longer-lasting influence of the softer...

29th May 2025 · 3 mins read

Australia & New Zealand Chart Pack

ANZ Chart Pack (May 2025)

Our ANZ Chart Pack has been updated with the latest data and our analysis of recent developments. Although continued trade tensions have heightened economic uncertainty, they have had only a modest...

29th May 2025 · 1 min read

UK Commercial Property Update

IPF Consensus Forecasts (May. 25.)

There were few major changes in the May IPF Consensus Survey despite increased economic uncertainty. Total returns at the all-property level are forecast to be around 8.0% p.a. over 2025-29, which...

29th May 2025 · 3 mins read

UK Housing Market Chart Pack

UK Housing Market Chart Pack (May 2025)

We suspect most of the recent weakness in housing demand and prices is due to the temporary influence of the rise in stamp duty on 1st April rather than any longer-lasting influence from the softer...

29th May 2025 · 1 min read

Global Commercial Property Focus

What COVID-19 means for real estate out to 2030 and beyond

The pandemic is firmly in our collective rear-view mirrors, but five years on, its effects continue to drive real estate performance differentials. We expect it to remain integral to driving winners...

28th May 2025 · 15 mins read

Europe Commercial Property Update

Residential in the UK and the Netherlands to outperform

European residential property outperformed all-property for the third consecutive year in 2024 and our updated forecasts suggest that this will continue over the coming five years. Returns were...

27th May 2025 · 3 mins read

US Housing Market Rapid Response

US New Home Sales (Apr. 2025)

Despite various headwinds and weakness elsewhere in the housing market, new home sales grew strongly in April. We do not expect that this strength will be maintained throughout the year, though, as...

23rd May 2025 · 2 mins read

US Housing Market Rapid Response

US Existing Home Sales (Apr. 2025)

The further decline in existing home sales in April suggests that elevated mortgage rates and economic uncertainty are keeping buyers on the sidelines. Things could go from bad to worse over the next...

22nd May 2025 · 2 mins read