Japan Economics Weekly Housing market hit hard by sales tax hike Housing starts and sales have plunged as a result of the sales tax hike, and residential investment will likely contract in both Q2 and Q3. While the experience from the last consumption tax hike is... 1st August 2014 · 1 min read
US Housing Market Update What is happening to mortgage lending? The value of banks’ outstanding residential mortgage lending is rising but the number of new loans remains static. This divergence is explained by a sharp rise in the value of the typical mortgage... 31st July 2014 · 1 min read
UK Housing Market Data Response Nationwide House Prices (Jul.) House price growth eased in July according to the Nationwide, with a rise of just 0.1% m/m – the slowest since April last year. A slowdown in growth was expected, given the drop in sales seen in... 31st July 2014 · 1 min read
UK Housing Market Update To what extent is the MMR responsible for the dip in mortgage lending? Housing market activity was already slowing prior to the introduction of the MMR. However evidence from the buy-to-let market suggests that the disruption to banks’ lending process turned an expected... 30th July 2014 · 1 min read
Asia Chart Pack Property price worries prompt rate hikes The central banks of New Zealand, the Philippines and Malaysia all tightened monetary policy last month amid signs that policymakers are becoming increasingly concerned that loose monetary policy is... 30th July 2014 · 1 min read
UK Housing Market Data Response Mortgage Lending (Jun.) The disruption caused by the MMR appears to be passing, with the Bank of England reporting a healthy rise in mortgage approvals in June. A strong economic recovery will ensure that lending grows... 29th July 2014 · 1 min read
UK Housing Market Data Response Land Registry Repeat Sales Index (Jun.) The Land Registry reported that house prices were flat in June, which led to the first drop in the annual rate in a year. That is consistent with other measures indicating a slowdown in the housing... 28th July 2014 · 1 min read
UK Commercial Property Chart Pack Capital values up sharply in June Economic output rose for the sixth consecutive quarter in Q2 and finally regained its pre-credit crunch level. Employment also continues to grow strongly, but spare capacity in the labour market means... 25th July 2014 · 1 min read
UK Housing Market Update Will buy-to-let landlords selling up cause a fall in house prices? A recent survey of letting agents reported that the share of landlords planning to sell properties has risen to a seven-year high. That could be a sign that prices have peaked. But with overall... 25th July 2014 · 1 min read
US Housing Market Data Response New Home Sales (Jun.) June’s new home sales data point to a market that is struggling to capitalise on the recovery that is underway in the rest of the US economy. Yet there are good reasons to expect new home sales to... 24th July 2014 · 1 min read
UK Housing Market Data Response BBA Mortgage Lending (Jun.) The BBA reported that mortgage approvals for house purchase rose for the second consecutive month in June, following upwards revisions to May’s data. That indicates that the disruption caused by the... 23rd July 2014 · 1 min read
US Housing Market Data Response Existing Home Sales (Jun.) The rise in existing home sales reflects the recent decline in mortgage interest rates,stronger job growth and the continued unwinding of the weather effect from earlier inthe year. While the legacy... 22nd July 2014 · 1 min read
Europe Economics Update Fears of a German housing bubble are overblown German house price inflation is modest by international standards, housing remains affordable andmortgage debt is low. Accordingly, fears of overheating seem overdone and should not ultimatelyprevent... 21st July 2014 · 1 min read
US Housing Market Data Response Housing Starts (Jun.) The sharp drop in housing starts in June suggests that the shortage of labour and lots is weighing on construction volumes. But the excess of household formation over homebuilding suggests that the... 17th July 2014 · 1 min read
UK Housing Market Outlook Housing market activity starts to cool Housing market activity is showing signs of cooling, with mortgage approvals, new buyer enquiries and transactions all easing in recent months. The drop in demand has helped to loosen market... 16th July 2014 · 1 min read
US Housing Market Update Survey evidence sheds light on homebuilder labour shortages Homebuilders are encountering shortages of skilled labour in the carpentry and framing trades required early in the homebuilding process. These shortages are leading to higher new build house prices... 16th July 2014 · 1 min read
