Consumer Panel Services GfK’s consumer confidence index fell two points to -21 from its two-year high of -19 in January and follows three consecutive monthly increases.

British Retail Consortium - NielsenIQ’s latest Shop Price Index reported shop price inflation at 2.5% for February, compared to 2.9% in January. Food inflation fell to 5.5% in February, the tenth consecutive monthly drop.

Lone Star Group is buying Union Square shopping centre in Aberdeen from Hammerson for £111m. The price represents a yield of about 12%.

Doncaster Frenchgate shopping centre is being marketed for £35 million or 10.5% net initial yield.

Shopping centres Swan Walk, Horsham (guide price £17m / 10.5% IY) and Coopers Square, Burton-on-Trent (guide price £9m / 16.3% IY) are to be sold by the receivers to BYM Capital.

Aviva Investors and Packaged Living have acquired two more SFR developments from Dandara, both in Milton Keynes, to provide 212 homes with an end value of c.£85m.

AEW reports that Europe’s real estate lenders face €14.5bn of losses and a 7.5% default rate for loans originated during the period 2018 to 2021.

Gresham House has agreed a £22m loan with lender Leumi UK, to fund the development of a 185-home build-to-rent (BTR) site at Spinners Yard, Leeds.

Savills reports that headline rents on new drive-thrus rose by more 25% last year to c. £55psf.

Homebase, bought by Hilco Capital for £1 in 2018, is up for sale for the second time within four years.

Bank of England reports that mortgage approvals rose from 51,500 to 55,200 in January, the highest level since October 2022 (pre-mini-budget rate spike), but levels remain 10% below the average for 2022.

Nationwide Building Society reports that UK house prices grew by 1.2% y/y, the first rise since last January. 

Mark Charlton – Real Estate Research Consultant at Waypoint