Andrew is JLL’s Head of Forecasting and works in the Market Intelligence team in London. He has been a Real Estate researcher for over 7 years now, following almost 2 decades as a professional economist at Experian, RBS and the Bank of England. Not surprisingly, interactions between economics and property markets are his main concern, but he also take a keen interest in financial market dynamics, productivity and performance, investment strategy, regional economics, modelling and forecasting, and demographics.
The Federal Reserve’s decision to hike US interest rates by 25 basis points marks a significant turning point in the global economic cycle. It has been a long time coming, but the decision was carefully signalled and well executed, and there are good reasons why occupiers and investors in Europe should remain calm about this […]
The last time I attended EXPO Real it was the immediate aftermath of one of the worst financial crashes in history. The atmosphere was ‘distinctly chilly’. Real estate was at the heart of the banking sector’s troubles and the half-empty halls and stands echoed with the noise from TV screens, which cascaded the latest market […]
This week, the economic news has been full of gloomy reflections on a very difficult quarter for financial markets. In Q3, stock prices have slumped by around 10% in the developed world and faster still in emerging markets, the sharpest falls in 4 years. Underlying this is evidence of a sharp slowdown in China’s real […]
With Grexit moving from outside possibility to likely outcome, what are the probable implications for property investment? Despite the threat of dramatic short term dislocation, my view is that real estate will hold up well. Here are my 5 predictions should Greece’s exit from the Euro become reality: 1. Contagion no longer a risk, despite […]
Two years ago, we wrote an article on Spain contrasting its footballing strength – highlighted by Real Madrid smashing the world transfer fee record for Gareth Bale – with its economic fragility. Real ended last season as Europe’s champions for a record 10th time, while rival Barcelona trumped them this year, winning a treble of […]
Last Thursday, the European Central Bank announced its long-anticipated quantitative easing (QE) programme, involving asset purchases of €60bn a month from March. This was slightly higher than initial expectations and the immediate market impact has been positive. The euro has fallen to an 11 year low, broadly as expected. Stock prices rose in Europe and […]
The start of the year is a natural time to look forward. Despite optimism a year ago, 2014 turned out to be a mixed year for the economy. In the first few weeks of 2015, we have already seen a slump in oil prices, a soaring Swiss franc, Grexit, Brexit and promises of Eurozone QE […]
Concerns about the fragility of the Eurozone recovery have intensified since the spring. Against a background of conflict in Ukraine, slower export markets and deflationary forces at home, confidence has faltered. Growth continued in these markets, but it has been increasingly insipid. By the autumn, the fear was growing that the single currency area could […]
Anyone who keeps in touch with the news will have noticed the increasingly upbeat economic announcements over the last 6 months or so. We have seen a very sharp turnaround from the near hopelessness of only a year ago when Europe seemed mired in a post-financial-crisis rut. UK and Eurozone economies emerged from recession by […]
With the end of the year approaching, it is a good time to reflect not only on what has happened so far, but also on the immediate outlook for European real estate. In particular, there is hope that after a difficult 12 months, we may be close to a turning point. Recent weeks have brought […]
After a tricky few months for the global economy, more encouraging signs are appearing at last. But with parts of the Eurozone still fragile, it is wise to be cautious about recovery. Moreover, property market developments tend to lag these wider economic trends. So it is perhaps no surprise that Jones Lang LaSalle’s latest prime […]
Three months ago, the economic gloom was unremitting, with the Eurozone teetering on the brink and growth expectations for 2012 being downgraded by the day. At that time, we felt that prime property would remain robust to the downturn, but warned of the risks if the situation deteriorated. Our forecast is currently being reconsidered, so […]
Recent days have seen some key data releases and given a clearer picture of the road ahead for the UK economy. The recent European Central Bank (ECB) rate hike and the upward march in inflation over recent months had fuelled speculation about interest rate increases. Previously, the case for a May 2011 hike looked strong, provided […]
