Property Economics

Andrew Wishart runs our UK Housing service. Having joined Capital Economics via the graduate scheme in 2015, Andrew spent three years working on the UK Economics service before joining the property team to cover the UK housing market.

Prior to joining Capital Economics, Andrew worked in the Macroeconomic Analysis team at HM Treasury covering GDP and inflation.

Andrew holds a Master’s degree in Economic History from the London School of Economics and an undergraduate degree in Economics from the University of Surrey

Articles published by Andrew Wishart

• Withdrawal of affordability test is a wise move
• Rising mortgage rates begin to take their toll
• Mortgage Lenders and Administrators Return (Q1 22)
• How significant are the Government’s housing reforms?
• RICS Residential Market Survey (May)
• Halifax House Prices (May)
• Why is the house price consensus still so bullish?
• Rental growth approaching a peak
• House prices heading for a fall
• RICS Residential Market Survey (Apr.)
• RICS Residential Market Survey (Apr.)
• Halifax House Prices (Apr.)
• Mortgage Lending (Apr.)
• Nationwide House Prices (Apr.)
• House prices will fall in 2023 and 2024
• Pick up in London demand will be fleeting
• Builders cautious despite strong demand
• Credit Conditions Survey (Q1 2022)
• RICS Residential Market Survey (Mar.)
• Halifax House Prices (Mar.)
• Valuations are most stretched in southern regions
• Nationwide House Prices (Mar.)
• Benefits of buying over renting wane
• Mortgage Lending (Feb.)
• Peak demand
• Mortgage rates will continue to rise
• Drop in sentiment suggests prices will lose some steam
• Nationwide House Prices (Feb.)
• Mortgage Lending (Jan.)
• The impact of the invasion of Ukraine on UK property
• Homeowners to keep on moving in 2022
• Higher rates will leave homes overvalued
• Rental growth on the launchpad
• RICS Residential Market Survey (Jan.)
• Halifax House Prices (Jan.)
• House price gains have further to run
• Mortgage Lending (Dec.)
• Nationwide House Prices (Jan.)
• London transactions outperform, but not prices
• RICS Residential Market Survey (Dec.)
• The anatomy of the pandemic price boom
• Credit Conditions Survey (Q4 2021)
• Halifax House Prices (Dec.)
• UK house price growth set for a year of two halves
• Mortgage Lending (Nov.)
• Strength to persist into 2022
• Interest rate lift off highlights risks
• End of affordability test opens door to larger mortgages
• Will the squeeze on real incomes hit real house prices?
• RICS Residential Market Survey (Nov.)
• Halifax House Prices (Nov.)
• Nationwide House Prices (Nov.)
• Mortgage Lending (Oct.)
• 300,000 supply target remains out of reach
• Where is all the stock?
• Little sign of momentum in prices abating
• Increase in mortgage rates to be limited
• RICS Residential Market Survey (Oct.)
• Higher interest rates to dab on the brakes
• Dovish surprise reduces housing market risks
• IHS Markit/CIPS Construction PMI (Oct.)
• Nationwide House Prices (Oct.)
• Mortgage Lending (Sep.)
• Materials shortages restrain construction
• Residential demand returns to London
• Credit Conditions Survey (Q3 2021)
• RICS Residential Market Survey (Sep.)
• Halifax House Prices (Sep.)
• IHS Markit/CIPS Construction PMI (Sep.)
• Modest rate hikes won’t prevent house price gains
• Nationwide House Prices (Sep.)
• Mortgage Lending (Aug.)
• Can large deposits continue to support house prices?
• Prices to continue rising as stamp duty holiday elapses
• House price boom has further to run
• Mortgage Lenders and Administrators Statistics (Q2 21)
• RICS Residential Market Survey (Aug.)
• Halifax House Prices (Aug.)
• IHS Markit/CIPS Construction PMI (Aug.)
• End of policy support doesn’t pose much risk
• Nationwide House Prices (Aug.)
• Mortgage Lending (Jul.)
• Robust demand and limited stock to support prices
• What if we are wrong about interest rates?
• RICS Residential Market Survey (Jul.)
• House price growth to cool but not collapse
• Mortgage Lending (Jun.)
• Nationwide House Prices (Jul.)
• Post-holiday slump in transactions won’t hit prices
• A tale of two rental markets
• RICS Residential Market Survey (Jun.)
• Halifax House Prices (Jun.)
• IHS Markit/CIPS Construction PMI (Jun.)
• Demand shifts towards outer London
• Mortgage Lending (May)
• Nationwide House Prices (Jun.)
• Will soaring materials costs slow housebuilding?
• Movers drive up sales to highest level since 2007
• Should we be worried about rental arrears?
• RICS Residential Market Survey (May)
• Mortgage Lenders and Administrators Statistics (Q1 21)
• Halifax House Prices (May)
• IHS Markit/CIPS Construction PMI (May)
• Mortgage Lending (Apr.)
• Nationwide House Prices (May)
• Rents show supply deficiency in London & the South
• Fundamentals support further house price gains
• RICS Residential Market Survey (Apr.)
• Halifax House Prices (Apr.)
• Mortgage Lending (Mar.)
• Nationwide House Prices (Apr.)
• How the housing market survived COVID-19
• Have house prices surged to an unsustainable level?
• Credit Conditions Survey (Q1 2021)
• Rise in long-term interest rates won’t crash house prices
• Halifax House Prices (Mar.)
• IHS Markit/CIPS Construction PMI (Mar.)
• RICS Residential Market Survey (Mar.)
• Is build-to-rent investment about to take off?
• Underperforming, but not by much
• Nationwide House Prices (Mar.)
• Mortgage Lending (Feb.)
• Has the pandemic changed housing demand?
• Tight market could drive prices higher still
• RICS Residential Market Survey (Feb.)
• Mortgage Lenders and Administrators Statistics (Q4)
• Our new UK housing forecasts
• Halifax House Prices (Feb.)
• IHS Markit/CIPS Construction PMI (Feb.)
• Budget 2021: UK Housing Response
• Nationwide House Prices (Feb.)
• Mortgage Lending (Jan.)
• Stamp duty extension would add to recent good news
• Arrears to rise when policy support is withdrawn
• Buyer demand appears resilient to end of tax break
• RICS Residential Market Survey (Jan.)
• Savings surge allows FTBs to upsize deposits
• Mass exodus drains demand from London and Midlands
• Halifax House Prices (Jan.)
• IHS Markit/CIPS Construction PMI (Jan.)
• Nationwide House Prices (Jan.)
• Mortgage Lending (Dec.)
• Near-term pain, medium-term gain
• Credit Conditions Survey (Q4 2020)
• New starts likely to remain weak as transactions slump
• RICS Residential Market Survey (Dec.)
• Some drop in the London rent premium to be sustained
• Two examples of what leasehold reform could mean
• Halifax House Prices (Dec.)
• IHS Markit/CIPS Construction PMI (Dec.)
• IHS Markit/CIPS Construction PMI (Dec.)
• 2021 likely to see house price surge reversed
• Mortgage Lending (Nov.)
• A year of two halves
• FPC hints that it will loosen lending rules
• RICS Residential Market Survey (Nov.)
• London house prices rally while rents drop
• Mortgage Lenders and Administrators Statistics (Q3)
• Halifax House Prices (Nov.)
• IHS Markit/CIPS Construction PMI (Nov.)
• IHS Markit/CIPS Construction PMI (Nov.)
• Nationwide House Prices (Nov.)
• Mortgage Lending (Oct.)
• House prices set to dip in 2021
• Stamp duty holiday turning out to be a mistake
• Can the housing market continue to shrug off job losses?
• RICS Residential Market Survey (Oct.)
• Summer surge in prices subsides
• Could cladding issues weigh on the housing market?
• Halifax House Prices (Oct.)
• IHS Markit/CIPS Construction PMI (Oct.)
• IHS Markit/CIPS Construction PMI (Oct.)
• Second wave may pull house prices back down
• How far will employment have to fall to meet GDP?
• Public Finances (Sep.)
• Public Finances (Sep.)
• Government support for employment fading
• Brexit deal or no deal gulf narrows
• Public Finances (Aug.)
• Retail Sales (Aug.)
• Strength of initial rebound won’t prevent more QE
• Curbing our optimism on UK equities
• When the fog clears more stimulus will be required
• Money & Credit (Jul.)
• The consequences of the pandemic for inflation
• Public Finances (Jul.)
• Quarantine is not the source of the tourism industry’s woes
• Policymakers start to withdraw support
• A better way to measure the recovery?
• IHS Markit/CIPS Flash PMIs (Jul.)
• Recovery in business investment will lag the rest of the recovery
• Labour Market (May/Jun.)
• BoE can push up the money supply but not inflation
• IHS Markit/CIPS All-Sector PMI (Jun.)
• Money & Credit (May)
• Recovery underway, but the biggest challenge awaits
• Retail Sales (May)
• The consensus is still too optimistic
• Return of risk appetite to benefit UK assets
• Monthly GDP & International Trade (Apr.)
• High business borrowing is the lesser of two evils
• EC Economic Sentiment (May)
• IHS Markit/CIPS Flash PMIs (May)
• Labour Market (Mar./Apr.)
• Debt lessons from the east
• What shape will the coronavirus recovery take?
• Consumer & Producer Prices (Mar.)
• Hit to economic health will linger for years
• Rising chance of an extension to the Brexit transition period
• All-Sector PMI & GfK Consumer Sentiment (Mar.)
• IHS Markit/CIPS Services & Composite PMI (Mar.)
• Explosion in gov’t borrowing won’t push up gilt yields
• A completely new type of recession
• Will the pound recover?
• IHS Markit/CIPS Flash PMIs (Mar.)
• Public Finances (Feb.)
• High frequency indicators start to show virus impact
• Negative gilt yields won’t be common
• Coronavirus complicates new policymakers’ task
• IHS Markit/CIPS Services & All-Sector PMI (Feb.)
• Virus-hit global demand to weigh on the UK
• Capacity for a substantial rise in public construction
• Flash PMIs (Feb.) & Public Finances (Jan.)
• Will the fiscal stimulus deliver much bang for its buck?
• Rate call on track, a Brexit transition into the unknown
• Business & Consumer Confidence (Jan.)
• CBI Industrial Trends (Jan.) & Public Finances (Dec.)
• Our thoughts on the chances of a January rate cut
• Monthly GDP & International Trade (Nov.)
• “Uncertainty” is still the key word
• GDP (Q3 Final Estimate) & Public Finances (Nov.)
• Labour Market (Oct.)
• How will the election result affect the markets?
• What will investors unwrap on Thursday night?
• Business & Consumer Confidence (Nov.)
• Public Finances (Oct.)
• Would investors shun gilts if Labour won the election?
• Labour Market (Sep.)
• MPC sitting on the fence, but could jump either way
• IHS Markit/CIPS Services & All-Sector PMI (Oct.)
• Brexit, general election, interest rates and rugby
• A loosening bias emerging
• Johnson’s Brexit deal could allow uncertainty to linger
• Consumer & Producer Prices (Sep.)
• A Brexit deal would transform the near-term outlook
• A Brexit deal would transform the near-term outlook
• Monthly GDP & Trade (Aug.)
• GDP (Q2 Final Estimate)
• Public Finances (Aug.)
• Are the UK’s financial ties with Hong Kong a concern?
• The MPC tanker is turning
• Retail Sales (Aug.)
• Consumer & Producer Prices (Aug.)
• Student loans the last nail in the coffin of the fiscal rule
• Brexit – What next?
• Key points on the next general election
• IHS Markit/CIPS Manufacturing PMI (Aug.)
• Will manufacturing drag the economy into recession?
• Is the UK different?
• Labour Market (Jun.)
• IHS Markit/CIPS Services & All-Sector PMI (Jul.)
• Forecasting a parallel universe
• How low could the pound go?
• Will the big current account deficit cause a problem?
• Consumer & Producer Prices (Jun.)
• Markets pricing in a cut – deal or no deal
• IHS Markit/CIPS Services PMI (Jun.)