US Housing Market Update Home sales can withstand the coming rise in mortgage rates In contrast to the rise in mortgage rates following the 2013 taper tantrum, the latest jump in rates is due to expectations of a fiscal stimulus, not concerns about a less supportive monetary policy... 30th November 2016 · 1 min read
UK Housing Market Update London Housing Chart Book - London set to underperform House price growth in London has held up reasonably well in the aftermath of the EU referendum. But the bigger picture is that the capital is in the midst of an internal adjustment. Outer London has... 30th November 2016 · 1 min read
US Housing Market Data Response Case-Shiller House Prices (Sep.) The 0.8% m/m gain in house prices on the Case-Shiller measure in September means prices are on track to meet our forecast for a 6% rise this year. Beyond that, higher mortgage interest rates will take... 29th November 2016 · 1 min read
UK Housing Market Data Response Mortgage Lending (Oct.) Mortgage approvals for house purchase rose for the second month in a row, suggesting that mortgage lending is back on an upward trend. But with homes for sale still in short supply, the pace of... 29th November 2016 · 1 min read
UK Housing Market Data Response BBA Mortgage Lending (Oct.) Mortgage approvals for house purchase recorded a second consecutive monthly increase in October to regain their pre-referendum level. That said, they are still short of the levels seen last year in... 24th November 2016 · 1 min read
India Chart Pack Anti-corruption drive has further to run The government’s shock demonetisation announcement earlier this month was its boldest measure yet to tackle corruption and formalise large parts of the shadow economy, but it is unlikely to be the... 24th November 2016 · 1 min read
US Housing Market Data Response New Home Sales (Oct.) New home sales fell in October, as low levels of inventory continued to bite. And while a rise in housing starts could help, any boost to home sales will take time to manifest itself. 23rd November 2016 · 1 min read
UK Housing Market Update Stress tests to put pressure on buy-to-let LTVs The introduction of the buy-to-let stress test should have little near-term impact. But in the longer term, the effect of the test on mortgage volumes will be amplified by the removal of mortgage... 18th November 2016 · 1 min read
China Chart Pack Property market starting to cool One of the key drivers of the economic turnaround this year, the property market,is starting to cool. Growth in the prices of new residential properties slumped inOctober in the largest (tier 1 and... 18th November 2016 · 1 min read
Canada Data Response Teranet-National Bank House Prices (Oct.) The national house price growth rate edged up to 11.8% in October, from 11.7%, driven entirely by Toronto’s hot housing market. While we expect that trend to continue in the very near term, stricter... 15th November 2016 · 1 min read
UK Housing Market Data Response CML Lending Trends (2016 Q3) Subdued demand from prospective buy-to-let (BTL) landlords and home movers was behind the continued weakness in mortgage activity in Q3, while buoyant activity among first time buyers (FTBs) partially... 15th November 2016 · 1 min read
UK Housing Market Data Response UK House Price Index (Sep.) 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... 15th November 2016 · 1 min read
US Economics Weekly What does Trump’s win mean for fiscal policy and the Fed? As it stands now, our working assumption is that Trump and Congress will agree on a fiscal stimulus early next year, nearly all of it tax cuts, worth somewhere between $3trn and $5trn over the next... 11th November 2016 · 1 min read
China Data Response Hong Kong GDP (Q3) Hong Kong’s economy is currently growing close to trend, despite continued subdued growth in exports. The overheated property market remains the major concern, with the recent rebound in prices after... 11th November 2016 · 1 min read
Japan Economics Weekly Housing rent to remain a drag on inflation Falling rents have been a persistent drag on inflation in Japan. While condominium prices have surged since the launch of QQE, there is virtually no link between house prices and rents. Instead, rents... 11th November 2016 · 1 min read
UK Housing Market Data Response RICS Residential Market Survey (Oct.) 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... 10th November 2016 · 1 min read
