US Housing Market Data Response CoreLogic House Prices (Nov.) It is too soon to tell whether the slight moderation in the month-on-month rate of house price inflation in November is the first sign that price pressures are coming off the boil again. Regardless... 6th January 2015 · 1 min read
UK Data Response Bank of England Credit Conditions Survey (Q4) Demand for mortgage lending contracted at the fastest pace since the financial crisis in the final quarter of 2014, but lenders expect a small recovery at the start of this year. By contrast, demand... 6th January 2015 · 1 min read
US Housing Market Data Response New Home Sales (Nov.) The new homes market continues to be very subdued, with a further drop in sales in November pushing the stock of new homes up for the ninth month in a row. But a number of factors, including strong... 23rd December 2014 · 1 min read
UK Housing Market Data Response BBA Mortgage Lending (Nov.) The BBA reported a further drop in mortgage approvals for house purchase in November, which are now down almost 20% compared to last year. However, the reforms to stamp duty and lifting of regulatory... 23rd December 2014 · 1 min read
US Housing Market Data Response Existing home sale (Nov.) Ignore the usual suspects who will claim that the unexpected 6.1% m/m decline in existing home sales in November is a sign that the housing or wider economic recovery just fell off the rails. They... 22nd December 2014 · 1 min read
US Housing Market Outlook The acceleration in house price growth is temporary House prices have regained fresh upward momentum in recent months. But as existing homeowners and homebuilders respond to higher prices by increasing supply, price gains will stabilise at 4% per annum... 22nd December 2014 · 1 min read
UK Housing Market Update Prime central London values under pressure The uncertainty generated by the slump in oil prices and the crisis in Russia have the potential to give a short-term boost to safe haven demand for prime central London homes. But beyond that... 19th December 2014 · 1 min read
UK Housing Market Update Stamp duty reform will boost house prices by 3% to 5% in 2015 We estimate that the direct impact of the reform to stamp duty will boost house prices by a relativelyminor 0.6%. But the indirect effect of reducing upfront costs and boosting housing market... 17th December 2014 · 1 min read
US Housing Market Data Response Housing Starts (Nov.) The latest homebuilding figures were a mixed bag, with starts declining in November but only because of an upward revision to October’s estimate. On balance, these data support our view that the... 16th December 2014 · 1 min read
Canada Economics Weekly Slump in oil prices leaves housing looking even more exposed The Bank of Canada admitted last week that the housing market has completely overshot and that the overvaluation is somewhere in the range of 10% to 30%. If we had to pick a number, it would be close... 15th December 2014 · 1 min read
Canada Data Response Teranet-National Bank House Prices (Nov.) The Teranet-National Bank measure shows that house price inflation was 5.2% in November, down slightly from 5.4%, easily outpacing growth in household incomes. Accordingly, this only adds to our... 12th December 2014 · 1 min read
US Housing Market Update How good is the outlook for residential rents? Over the past three years the surge in average house prices has dwarfed the rise in rents. However, over the next few years, those patterns look set to go into reverse, with rents likely to rise at an... 11th December 2014 · 1 min read
UK Housing Market Data Response RICS Residential Market Survey (Nov.) The November RICS survey reported that housing demand is continuing to contract, while prices are now expected to stall over the next quarter. But reforms to stamp duty, and the recent dip in mortgage... 11th December 2014 · 1 min read
Europe Economics Update Spain’s housing recovery will be painfully slow While the recent rise in Spanish house prices is another encouraging sign for the economy, we expect the housing recovery to be extremely slow. The Spanish economy still needs to undergo a painful... 9th December 2014 · 1 min read
US Housing Market Chart Pack Any rebound in house price inflation will be temporary Tighter supply conditions suggest that the moderation in house price inflation may be about to go into reverse. So, too, do solid rates of economic growth and job creation as well as tentative signs... 9th December 2014 · 1 min read
UK Housing Market Data Response Mortgage Lenders and Administrators Statistics (Q3) The growth in mortgage lending has slowed, as new regulations have led to a decline in the share of high loan-to-value and loan-to-income mortgages. But alongside a further fall in the share of... 9th December 2014 · 1 min read
