Global Vision, our flagship global research publication, is produced annually but has quarterly updates. The Q2 update 2009, covers the outlook for global real estate markets based on the recent Global House View using our forecasts for the global property markets. There seems to be the early signs of a change in outlook with many leading economic indicators and sentiment indices starting to show positive trends; or at the very least the indicators have stopped deteriorating at such a rapid pace.
The quarterly update – “Are We There Yet” – considers if we have reached the trough in the global real estate markets around the globe. Our conclusion is that we still have further capital value adjustments to come in many markets during 2009 and 2010. In the US and UK the worst is behind us, as these markets have already seen large peak to trough adjustments.