UK Housing LPDF Annual Conference Economic Update Andrew Wishart, who leads our UK housing coverage, presented an Economic Update to attendees of the Land, Planning and Development Federation Annual Conference in London on the 30th November. The... 1st December 2023 · 1 min read
UK Housing Market Rapid Response Nationwide House Prices (Nov. 23) The further small increase in the Nationwide house price index in November was unexpected and came on the heels of an even larger rise in October. It means house prices are on track to fall by just 2%... 1st December 2023 · 2 mins read
Event UK Housing Drop-In: Is the worst behind the UK housing market? 1st December 2023, 9:30AM GMT Chief Property Economist Andrew Burrell and Andrew Wishart, who leads our UK housing coverage, held a client briefing shortly after the release of the November Nationwide House Price Index for a...
UK Housing Market Outlook Prices to bottom out, but activity will remain soft Surprisingly resilient demand, high inflation, and limited supply mean a severe drop in house prices will be avoided. With the peak in mortgage rates now behind us and the labour market in good shape... 21st November 2023 · 17 mins read
Event UK Drop-In: Autumn Statement – What does it mean for the UK economy and markets? 22nd November 2023, 3:00PM GMT Economists from our UK, Markets and UK Housing teams recently held a special post-Autumn statement online briefing. During this 20-minute session, Chief UK Economist Paul Dales and the team answered…
UK Housing Market Update RICS Residential Market Survey (Oct. 23) The past prices balance remained deeply negative in October contradicting the 1% m/m increases in house prices recorded by both Halifax and Nationwide. But a recovery in buyer enquiries suggests the... 9th November 2023 · 2 mins read
UK Housing Market Update Further sharp drop in house prices unlikely The rise in house prices in October was a challenge to our long-held view that high borrowing costs will cause them to drop further. The resilience of prices in part reflects longer mortgage terms... 7th November 2023 · 3 mins read
UK Housing Market Rapid Response Halifax House Prices (Oct. 23) The increase in the Halifax house price index in October confirmed that house prices are rising, suggesting that the high cost of borrowing alone is not sufficient to trigger the leg down we predicted... 7th November 2023 · 3 mins read
UK Commercial Property Rapid Response S&P Global/ CIPS Construction PMI (Oct.) The uptick in the headline CIPS construction PMI from 45.0 in September to 45.6 in October still left it below the 50 “no-change” mark. But despite an improvement in both the commercial activity and... 6th November 2023 · 2 mins read
London Housing Markets Chart Pack London Housing Chart Pack (Q4 2023) London house prices have fallen by less than we anticipated, and stopped falling altogether in Q3. However, the high level of house prices compared to incomes should mean that higher mortgage rates... 30th October 2023 · 1 min read
UK Housing Market Rapid Response BoE Mortgage Lending (Sep.23) The drop in mortgage approvals in September left them a third below their usual level in the years leading up to the pandemic as high mortgage rates put homeowners off moving and priced many first... 30th October 2023 · 3 mins read
UK Housing Market Update Effectiveness of Mortgage Guarantee varies by region The proposed extension to the Mortgage Guarantee Scheme could prove a good counter-cyclical policy in areas where house prices are relatively low. But the scheme has far less impact in London and the... 25th October 2023 · 3 mins read
UK Housing Market Chart Pack UK Housing Market Chart Pack (Oct. 2023) Our forecast that the Bank of England won’t start cutting interest rates until the second half of 2024 means mortgage rates are likely to stay between 5% and 6% until mid-2024. While transactions... 23rd October 2023 · 1 min read
UK Housing Market Update What are house prices really doing? House prices are rising according to the Office for National Statistics but falling according to Halifax and Nationwide. Consistent downward revisions to the ONS House Price Index mean that we think... 19th October 2023 · 2 mins read
UK Commercial Property Update BoE Credit Conditions Survey (Q3 2023) - Demand and supply of credit contracts Surging interest rates caused mortgage demand to slump in Q3 at the same time as rising defaults led lenders to tighten mortgage credit conditions. Similarly, it became more difficult to secure... 12th October 2023 · 3 mins read
UK Housing Market Update RICS Residential Market Survey (Sep. 23) Surveyors reported the most widespread price falls since February 2009 in September as mortgage rates of over 5% took their toll. Looking ahead, a further slide in house prices appears inevitable. 12th October 2023 · 2 mins read
