US Economics Weekly Surge in trade deficit will soon be reversed This week we expect to learn that, rather than edging up by 0.2% annualised as the first estimate indicated, first-quarter GDP contracted by 0.7%. The principal reason for the revision is that net... 22nd May 2015 · 1 min read
China Chart Pack Property to remain a drag despite stronger sales Growth in property sales returned to positive territory for the first time in over ayear last month, helped by lower mortgage rates and a loosening of purchasecontrols. But hopes that this marks the... 22nd May 2015 · 1 min read
US Housing Market Data Response Existing Home Sales (Apr.) The drop in existing home sales in April was probably just payback for a strong rise in March rather than a sign the market is faltering again. The strengthening labour market and favourable... 21st May 2015 · 1 min read
UK Housing Market Data Response Housebuilding (Q1) The jump in housing starts in the first quarter of 2015 more than reversed the dip seen during the second half of last year. As a result, starts are once again growing on an annual basis. But with... 21st May 2015 · 1 min read
UK Housing Market Chart Pack Conservative win will revive prime London marke Housing demand is beginning to recover in London, with surveyors reporting the first rise in new buyer enquiries in over a year in April. Activity in the prime central London market is also set to... 20th May 2015 · 1 min read
US Housing Market Data Response Housing Starts (Apr.) Housing starts soared to a seven-year high in April, as homebuilding activity finally rebounded after the weak start to the year. Looking ahead, this should provide a platform for further steady... 19th May 2015 · 1 min read
UK Housing Market Data Response CML Lending Trends (2015 Q1) Mortgage lending got off to a slow start in 2015, with advances for house purchase in the first quarter down by 9% on a year earlier. But there are signs that mortgage volumes are resuming their... 19th May 2015 · 1 min read
Canada Economics Weekly Construction employment losses likely only beginning The recent job losses in the construction sector are likely only a precursor of what's in store for the year ahead. Falling energy investment and cooling housing demand could form the perfect storm... 18th May 2015 · 1 min read
Canada Data Response Teranet-National Bank House Prices (Apr.) The rate of house price inflation edged down to 4.4% in April, from 4.7%, and the existing home sales-to-new listings ratio indicates that some further slowing is likely in the coming months. 13th May 2015 · 1 min read
Australia & New Zealand Economics Update New Zealand - New mortgage restrictions raise rate cut chances The Reserve Bank of New Zealand’s (RBNZ) plan to tighten its macro-prudential polices in order to tame house price inflation in Auckland could be another sign that it is preparing the ground for a... 13th May 2015 · 1 min read
US Housing Market Chart Pack Promising signs from the mortgage market The sharp rise in home purchase mortgage applications, to a two-year high in April, was an encouraging sign that the market may finally be turning a corner after years of stagnation. Admittedly... 12th May 2015 · 1 min read
US Housing Market Update What’s holding first-time buyers back? There is no evidence to suggest that homeownership aspirations amongst young households have diminished in recent years. And some of the cyclical factors holding back demand have also eased sharply... 11th May 2015 · 1 min read
UK Housing Market Data Response Halifax House Prices (Apr.) The latest rise in the Halifax house price index might not be quite as strong as it initially seems. The underlying trend in the pace of house price growth actually eased a little. Nevertheless, it... 8th May 2015 · 1 min read
UK Housing Market Chart Pack Active housing demand depressed despite fall in mortgage rates A few indicators suggest that the recovery in housing market activity is losing some traction. But with mortgage rates at record lows, employment at record highs and house price expectations rising... 7th May 2015 · 1 min read
US Housing Market Data Response Mortgage Delinquencies (Q1) The latest decline in the share of households suffering mortgage payment problems provides more evidence that the housing market is slowly normalising. To the extent that it encourages lenders to ease... 6th May 2015 · 1 min read
UK Housing Market Focus Are high construction costs holding back housebuilding? The latest dip in housing starts has been accompanied by a sharp rise in construction costs. But it is shortages of labour and materials, rather than an increase in their costs, which seems to be... 6th May 2015 · 1 min read
