Filtered by Subscriptions: UK Housing Use setting UK Housing
Annual house price growth held steady in September. But revisions to the data paint a more subdued post-referendum picture than before, while the already high level of house prices will help to prevent price growth from taking off again. … UK House Price …
15th November 2016
Housing demand grew for a second consecutive month in October, as buyers gradually returned to the market. But high house prices and a weaker economy will prevent this from being translated into house price gains next year. … RICS Residential Market …
10th November 2016
London saw a sharp drop in housing starts during Q3, as builders paused to assess the Brexit vote’s effect on an already slowing market. But with the effect of the referendum looking comparatively mild, we expect the bulk of Q3’s fall to be reversed …
8th November 2016
Data from Halifax point to house prices stagnating in the third quarter. That echoes the broad picture outlined by other indices that, while house price growth slowed in the wake of the referendum result, there is no evidence of any substantial fall in …
7th November 2016
The latest data show a housing market that is on the way to recovering from a brief post-referendum slowdown. Yet the tightness in active supply conditions looks set to persist, house prices are still high and sentiment has not quite returned to its …
3rd November 2016
Consumer spending growth is unlikely to maintain its recent strength in the year ahead. But supportive credit conditions should prevent spending from slowing too sharply, with past monetary loosening continuing to feed through to lower borrowing costs. … …
2nd November 2016
House prices held flat in October, while the annual rate of growth decelerated to 4.6%. Other data suggest that buyers are now starting to return to the market following the Brexit shock. But with house prices already very high, we expect annual price …
• Mortgage approvals for house purchase rose for the first time in four months in September, echoing last week’s message from the BBA data that the fall in mortgage lending has bottomed out. … Mortgage Lending …
31st October 2016
Mortgage approvals rose for house purchase rose the first time in four months, suggesting that the recent fall in mortgage lending has bottomed out. That said, with the economic backdrop set to be subdued, lending is set to recover at only a modest pace. …
26th October 2016
Our calculations suggest that there is plenty of room for competitive pressures to narrow the spread between high LTV and mainstream mortgages. That said, with banks looking cautious ahead of Brexit, we don’t expect such loans to become dramatically …
24th October 2016
House price growth on the official index strengthened a touch August, all but confirming that the Brexit vote caused little damage. But with prices already high and economic growth set to be sluggish, a slowdown in 2017 is still on the cards. … UK House …
18th October 2016
The housing market is starting to recover from the initial shock of the Brexit vote. But with prices already high, we don’t expect a return to business as usual. Rather, we think house price growth will slow further into 2017 and remain subdued …
17th October 2016
Today’s Credit Conditions Survey shows that lenders became a little more cautious in the aftermath of the referendum. And while banks look set to relax conditions for mortgage lending in Q4, the outlook for commercial property looks more restrained. … …
14th October 2016
The evidence so far has supported our view that the immediate economic impact of the vote to leave the EU would not be as severe as most had expected. And although there are many challenges ahead – not least rising inflation – further support from …
September’s RICS survey shows to the first rise in buyer enquiries since March. But with economic growth set to moderate and house prices already high, we don’t expect house price growth to take off again anytime soon. … RICS Residential Market Survey …
13th October 2016
Record demand for rented homes, rock-bottom interest rates and an unusually low spread between commercial and residential property income returns have triggered a surge in build-to-rent activity this year. The squeeze in relative income returns may yet be …
10th October 2016
Today’s data from the Halifax showed that house prices were more or less flat on the month in September. Therefore, it echoes the evidence provided by other indices that house prices have proved resilient to the Brexit vote. … House prices stabilised in …
7th October 2016
Demand in the housing market is retrenching after a brief period of post-referendum nerves, as evidenced by the rapid rebound in buyer sentiment. That said, buyer and seller numbers still fell in August – albeit more slowly than before. So it may be …
5th October 2016
While house price growth slowed a touch in September, the bigger picture is one of resilience in the face of the Brexit vote. Yet the fundamentals suggest that prices are still very high, meaning that we expect subdued sales to persist, and a further …
30th September 2016
Help-to-Buy: mortgage guarantee successfully kick-started the market for high LTV mortgages back in 2014. But such loans are now increasingly provided without government support. As a result, we think there is no obvious reason to extend the scheme past …
29th September 2016
Mortgage approvals edged down further in August as the referendum hit to buyer confidence continued to feed through to lending. While confidence is slowly returning as it becomes clear that the economy will avoid a recession, softer economic fundamentals …
The first snapshot of mortgage lending in August shows that the drop in buyer enquiries and agreed sales seen in the run up to June’s EU referendum and in its aftermath is still feeding through to the market. In volume terms, lending is now down by more …
26th September 2016
Today’s data from Knight Frank is further evidence that confidence in the housing market has recovered following the referendum. This, alongside the data released so far, suggests that the effect of the referendum on the housing market has been both …
23rd September 2016
Following a sharp dip in the run-up to and immediately following the referendum, buyer confidence in the UK housing market looks to be stabilising. But there are indications of reduced risk appetite on the part of lenders. Unless quickly reversed, this …
22nd September 2016
Growth in the capital’s asking prices has slowed sharply in recent months, driven primarily by a weak performance in the central boroughs. With London’s housing market facing headwinds from high prices and Brexit uncertainty, the data seem to echo our …
21st September 2016
The fact that buy-to-let lending is now running at barely half last year’s levels could be a sign that policymakers have succeeded in choking-off demand. But we think the fact that BTL lending grew in July, despite it falling elsewhere, is a sign that …
20th September 2016
The official house price index recorded a modest drop in house prices in July, immediately following the referendum, consistent with our forecast that house price inflation will slow sharply during the second half of the year. … Official House Price Index …
13th September 2016
Today’s rebound in the RICS survey data suggest that the post-referendum housing market malaise is wearing off. But with the majority of the survey’s measures still weak, the market is still some distance from a return to normal. … RICS Residential Market …
8th September 2016
There are increasing signs that the initial post-referendum shock has begun to recede. With buyer numbers still falling and confidence still shaky, the weakness in transactions will last for several months yet, while house price growth will continue to …
7th September 2016
Today’s data from the Halifax point to a minor post-referendum dip in house prices. But with the economic data increasingly pointing away from a full-blown recession and interest rates set to stay low for the foreseeable future, a correction in house …
The rebound in the construction PMI, and, in particular, the housebuilding component, is a welcome development. But on its own, it will not prevent housebuilding from taking a backwards step in the second half of the year. … Construction PMI does not …
2nd September 2016
While data from Nationwide point to resilient house price growth in August, leading indicators suggest that this won’t last. Indeed, with house price expectations muted and the economy set to weaken, we think house price growth will slow over the …
31st August 2016
Mortgage lending cooled in July, as the referendum hurt buyer confidence. Uncertainty has lifted somewhat since. But buyers will stay cautious as the economic backdrop softens, helping to keep lending muted through to the end of the year. … Mortgage …
30th August 2016
The growth rate of private residential rents has slowed in recent months, driven primarily by London. We think this is a sign that affordability constraints are starting to bite in the capital. But there is little reason to think that a sustained slowdown …
26th August 2016
While early post-referendum indicators of consumer spending have been fairly upbeat, spending growth is still set to slow following the vote to leave the EU. Labour market conditions are likely to deteriorate and rising inflation will undermine real wage …
25th August 2016
Mortgage approvals for house purchase weakened in July, as the effect of the Brexit vote knocked confidence. And while buyer sentiment has partially rebounded, lending is set to stay weak until the end of the year as the economic backdrop softens and …
24th August 2016
With the referendum having knocked confidence, survey measures pointing to slowing economic activity and buyer numbers having fallen for six months in a row, London’s housing market is cooling. We think activity in the capital will fall over the remainder …
19th August 2016
Today’s data point to solid house price growth ahead of the referendum. And while London lost the top spot, price growth there still recorded double-digit gains. Yet with prices already high, and the referendum having knocked confidence, we don’t expect …
16th August 2016
Lower interest rates will do little to help frustrated first-time buyers get onto the housing ladder. But they will ensure that the income returns offered by BTL investments continue to be relatively attractive. As a result, we think investor demand for …
12th August 2016
July’s RICS survey suggests that the initial shock that followed the referendum eased a little over the month. But with most readings still in negative territory, the data are signalling a slowdown in house price growth and a fall in transactions. … RICS …
11th August 2016
Mortgage advances for house purchase picked up strongly in June. But with most of the data reflecting transactions agreed pre-referendum, these figures do not give a clean bill of health to the post-Brexit vote mortgage market. … CML Lending Trends (2016 …
10th August 2016
The first set of post-referendum housing market data is consistent with our expectations of a slump in transactions over the next 6 to 12 months. That said, while the picture painted by the main house indices has been benign, the collapse in house price …
5th August 2016
Today’s Halifax index painted a mixed picture for the post-referendum house price reaction. But taking a wider view, there are plenty of signs that house price inflation is set to slow markedly over the next few months. … Halifax House Prices …
Today’s measures from the MPC met our expectations. And while mortgage interest rates are now likely to fall a little further, uncertainty amongst buyers means that this is unlikely to give lending volumes and transactions a material boost. … Will the MPC …
4th August 2016
A lot has changed since our previous Analyst. Distortions relating to the stamp duty surcharge alongside a weakening economic backdrop kicked the housing market into a lower gear earlier in Q2. And the referendum result has added to that downward …
2nd August 2016
Mortgage approvals for house purchase fell in June, in part down to the referendum and lingering effects of the stamp duty surcharge. And with the fall in new buyer enquiries unlikely to reverse soon, we think lending could weaken a little more in the …
29th July 2016
Data from Nationwide suggest that house price growth held broadly steady in the first month after Brexit. But the nature of the data, as well as the fact that other indicators are consistent with house price growth slowing over the remainder of the year, …
28th July 2016
Mortgage approvals for house purchase fell in June, as uncertainty, both in the run-up to the referendum and in its aftermath, weighed on demand. And the post-Brexit data we’ve seen so far is consistent with mortgage approvals falling a little more by the …
26th July 2016
The data so far on housing market activity and prices are broadly to our expectations, pointing to a fall in transactions but no collapse in prices. Yet with data from this morning reporting a sharp drop in both house price sentiment and UK PMIs, the …
22nd July 2016
The UK’s vote to leave the European Union has plunged the country into a period of almost unprecedented uncertainty. But we remain a bit less pessimistic than some others over the economic impact. So while we have pulled down our growth forecasts, we are …
19th July 2016
