Real estate is in focus for financial professionals in a way it hasn’t been since the global financial crisis. After house prices reached bubble territory in some markets during the pandemic, central banks look likely to keep raising interest rates in 2023 – making mortgages and property refinancing’s more expensive.
That’s not just a problem for homebuyers and commercial real estate investors. It’s a threat to global growth, according to Oxford Economics. When it comes to commercial real estate, Oxford Economics predicts values could fall by up to one-third of their GFC decline. The US and UK will likely be the worst hit.
Oxford Economics, announced an extension to their longstanding partnership that will make Oxford’s Real Estate Economics Service (REES) available to Macrobond Financial’s customers.
With a growing user base focused on real estate, REES aims to help financial professionals understand the impact of macroeconomic, financial, climate, and geopolitical developments on real estate performance. It not only measures historic performance versus other asset classes but provides a consistent and objective outlook for the future, using a proprietary global economic model.
REES will bolster Macrobond’s breadth of data, including Oxford Economics’ global forecasts and almost 300 million time series. REES will be key for Macrobond’s clients and can be easily integrated into their workflows.
Howard Rees, Macrobond Chief Commercial Officer, said: “As we keep building Macrobond into the single source of truth for our clients, we are extremely pleased to add such a unique and informative data series. Oxford Economics’ forecasts slot in perfectly with our wealth of macroeconomic data. Their focus on real estate could not be more timely at a time of unprecedented economic uncertainty.”
George Armitage, Oxford Economics Managing Director for Global Real Estate & Specialist Markets, said: "We are delighted to add our new real estate forecasting service to Macrobond. Our expanded distribution partnership provides investors, lenders and developers with a platform to compare future real estate performance against Macrobond’s existing suite of financial indicators.”
