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Victoria Ormond

Partner, Head of Capital Markets Research

Global Headquarters, GB

About
Victoria is a Partner and Head of Capital Markets Research at Knight Frank. Drawing on over twenty years of real estate experience, Victoria and her team develop market leading insight, thought leadership, commentary and analysis, including for the flagship insight programme, Active Capital.

Prior to joining Knight Frank, Victoria was Senior Research Analyst at Savills Investment Management.

Victoria began her real estate career with seven years at RBS, where she worked as Associate Director in origination for Pan-European commercial real estate portfolios before joining its German Restructuring team.

At Bayfield Training, she has also been involved in the design and delivery of real estate courses for major commercial real estate fund managers, lenders, investors and lawyers. Additionally, since 2011, Victoria has been a supervisor and guest lecturer at the University of Cambridge, covering areas including real estate finance, valuation, urban economics and statistics.
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Latest research

Active Capital

Top themes: Seven forces shaping capital decisions in 2026

The Active Capital Survey 2026 identifies seven tightly clustered forces that will define investment decisions in the year ahead.

20 January 2026

Active Capital

Top themes: Seven forces shaping capital decisions in 2026

The Active Capital Survey 2026 identifies seven tightly clustered forces that will define investment decisions in the year ahead.

20 January 2026

Active Capital

The Knight Frank Active Capital Survey 2026: How investors plan to deploy $144bn

The survey reveals how capital flows, sector priorities and strategic positioning will shape 2026.

20 January 2026

Active Capital

The Knight Frank Active Capital Survey 2026: How investors plan to deploy $144bn

The survey reveals how capital flows, sector priorities and strategic positioning will shape 2026.

20 January 2026

Active Capital

Sector strategy for 2026: Offices to anchor allocations as demographics and technology drive diversification

Offices will be the top targeted sector in 2026. Investors will likely focus on prime assets in core CBDs where there is income resilience.

20 January 2026

Active Capital

Sector strategy for 2026: Offices to anchor allocations as demographics and technology drive diversification

Offices will be the top targeted sector in 2026. Investors will likely focus on prime assets in core CBDs where there is income resilience.

20 January 2026

Active Capital

Investor opportunities: Prime offices, repricing plays and structural growth sectors

Respondents to the survey identify three dominant opportunity clusters shaping investor strategy for the year ahead.

20 January 2026

Active Capital

Investor opportunities: Prime offices, repricing plays and structural growth sectors

Respondents to the survey identify three dominant opportunity clusters shaping investor strategy for the year ahead.

20 January 2026

Active Capital

From core to complexity: What investor hurdle rates tell us about 2026

Investor hurdle rates follow a hierarchy across strategies. The gap shows liquidity, complexity, execution risk and market volatility.

20 January 2026

Active Capital

From core to complexity: What investor hurdle rates tell us about 2026

Investor hurdle rates follow a hierarchy across strategies. The gap shows liquidity, complexity, execution risk and market volatility.

20 January 2026

Active Capital

Core capital returns: The outlook for core liquidity, recovery and strategy in 2026

Core investment is set to regain momentum, driven by stabilising debt, narrowing bid–ask spreads and improving return profiles.

20 January 2026

Active Capital

Core capital returns: The outlook for core liquidity, recovery and strategy in 2026

Core investment is set to regain momentum, driven by stabilising debt, narrowing bid–ask spreads and improving return profiles.

20 January 2026

Active Capital

Capital strategies: Defensive anchors, opportunistic plays and the rise of partnerships

The Active Capital Survey 2026 indicates an investor base delicately balanced between caution and conviction.

20 January 2026

Active Capital

Capital strategies: Defensive anchors, opportunistic plays and the rise of partnerships

The Active Capital Survey 2026 indicates an investor base delicately balanced between caution and conviction.

20 January 2026

Active Capital

Capital on the move: How optimistic investors are targeting direct commercial real estate in 2026

How optimistic investors are targeting direct commercial real estate in 2026.

20 January 2026

Active Capital

Capital on the move: How optimistic investors are targeting direct commercial real estate in 2026

How optimistic investors are targeting direct commercial real estate in 2026.

20 January 2026

Active Capital

Active Capital: International Capital Steps Forward

As domestic investors exercise caution, international capital is pushing ahead to diversify risk and find early cycle opportunities.

16 October 2025

Active Capital

Active Capital: Trends Shaping Global Cross-Border Investment in 2025

Global cross-border capital flows showed resilience in H1 2025, with Q1 up 6% YoY and Q2 around 8% higher, despite market volatility. Investors are navigating a highly nuanced landscape, favouring safe-haven and high-potential sectors like logistics, innovation-driven assets, and well-located offices. Our latest insights explore the trends shaping Q4 2025.

26 September 2025

Active Capital

Active Capital 2025: Noise, nuance and opportunity

Start of year momentum in cross-border real estate investment has met with geopolitical uncertainty and diverging regional dynamics. In this environment, understanding market, sector and asset-level nuances is more critical than ever to identify opportunities. Early indicators suggest renewing appetite for core strategies.

02 July 2025

Investment

UK Cities DNA | The new case for UK Commercial Real Estate

The UK frequently ranks first or second as a destination for cross-border real estate investment, and with ongoing relative liquidity and an overt commitment to growth sectors, the UK continues to be a favourable real estate market.

17 December 2024

UK Cities DNA

UK Cities DNA - The new case for UK commercial real estate

The second of twelve insight papers in our UK Cities DNA initiative — putting real estate supply and demand in the context of the economic direction of travel.

23 September 2024

Offices

Insight 3: How will London recover this time?

The third insight paper in our London Series, outlining the recovery path of London's office investment market.

06 June 2024

Active Capital

How do US investor trends pave the way for global real estate market recovery?

With US capital a significant source of global cross-border investment and core indicator of commercial real estate trends, our Capital Gravity model reveals US outbound capital flow forecasts into 18 key locations across the globe.

22 April 2024

Active Capital

Active Capital 2024 forecasts: 60 second summary

A snapshot of the forecasts and forces shaping the global real estate investment landscape.

25 March 2024

See more