Nordic & Swiss Economics Update Norway’s housing boom won’t force rates higher Norway is in the midst of a long housing boom, but prices are not as over-valued as some valuation measures suggest. Given other downward risks to the economic outlook, we think that interest rates... 26th February 2013 · 1 min read
US Housing Market Focus Will housing equity withdrawal return this year? Rising house prices, more home sales, and a slight loosening in credit conditions should see housing equity withdrawal turn positive in 2013 or soon after. Nevertheless, the amount of equity extracted... 25th February 2013 · 1 min read
UK Housing Market Data Response BBA Mortgage Lending (Jan. 13) Mortgage approvals for house purchase fell in January, the first decline for six months. While the bad weather didn’t help matters, this is a timely reminder that the recent pick-up in housing market... 25th February 2013 · 1 min read
US Housing Market Data Response Mortgage Delinquencies & Existing Sales (Q4/Jan) Together, the fall in foreclosure starts and the foreclosure inventory and the rise in the number of non-distressed home sales are encouraging signs of a housing market returning to health. 21st February 2013 · 1 min read
UK Housing Market Data Response Housebuilding (Q4.) Housing starts dropped back in 2012 to below 100,000. But there are some indications that builders are beginning to see a modest increase in demand for new homes. 21st February 2013 · 1 min read
Canada Economics Update Falling house prices setting a precedent for further declines National home prices have been in decline for five consecutive months and we anticipate further declines this year, as potential buyers are scared off by the prospect of capital losses. We standby our... 20th February 2013 · 1 min read
UK Housing Market Update Do we really need 240,000 new homes a year? Claims that we need 240,000 new homes a year are based on household projections which have significantly underestimated average household size. The provisional 2011 Census results strongly suggest... 20th February 2013 · 1 min read
US Housing Market Data Response Housing Starts (Jan. 13) January’s large drop in housing starts isn’t as bad as the headline numbers suggest. And with housing starts still significantly below normal levels, there is plenty of scope for strong gains later... 20th February 2013 · 1 min read
Canada Economics Update Brighter forestry prospects no harbinger for Canada The turnaround in the US housing market, which has pushed lumber prices up to multi-year highs, is benefiting Canada's forestry exporters. However, the pick-up in demand for lumber south of the border... 19th February 2013 · 1 min read
US Housing Market Update Are house prices gains in some States unsustainable? Concerns have been raised that some States are seeing unsustainable, investor-fuelled house price increases. However, we think that in most of these markets, the fundamentals are supportive of a... 15th February 2013 · 1 min read
UK Housing Market Focus The outlook for buy-to-let in 2013 The buy-to-let market will expand modestly over 2013, with the demand for, and supply of, private rented property edging up. But affordability constraints will mean that rental growth will be lower... 14th February 2013 · 1 min read
UK Housing Market Data Response Mortgage Arrears and Possessions (Q4 12) A further decline in the number of properties possessed by lenders is good news for households. But with real earnings continuing to fall, more borrowers are likely to fall into arrears over the... 14th February 2013 · 1 min read
UK Housing Market Data Response CML Buy-To-Let Lending (Q4 12) The BTL lending market showed further signs of recovery in the final stages of last year. This year, the low level of interest rates and the prospect of healthy tenant demand both argue that further... 14th February 2013 · 1 min read
UK Housing Market Data Response RICS Housing Market Survey (Jan.) The January RICS survey suggests the housing market had a faltering start to 2013. While mortgage rates are continuing to fall, first-time buyers face strict credit scoring criteria and house prices... 12th February 2013 · 1 min read
US Housing Market Update Should we be concerned that starts are outstripping sales? Housing starts have risen by 37% over the past year, but new home sales have only increased by 9%. Rather than being a sign that speculative overbuilding has returned however, this gap reflects the... 11th February 2013 · 1 min read
Asia Economics Weekly Property prices in Emerging Asia - an update Property prices look significantly overvalued in Hong Kong and parts of Taiwan. As such, while the risk of a slump in exports bringing recession in these trade-oriented economies has subsided recently... 11th February 2013 · 1 min read
