UK Commercial Property Data Response CIPS/Markit Construction PMI (Feb. 13) The stabilisation in commercial property construction in January proved to be only temporary, with the CIPS/Markit PMI falling back to 45.5 in February, a three-year low. Given occupier demand is... 4th March 2013 · 1 min read
UK Data Response CIPS Report on Manuf. (Feb.) & Mortgage Approvals (Jan.) February’s CIPS manufacturing survey added to evidence that it is touch and go whether the economy has avoided entering a triple-dip recession. 1st March 2013 · 1 min read
UK Housing Market Data Response Nationwide House Prices (Feb.) & Mortgage Lending (Jan. 13) Today’s housing market data highlight the risk that the renewed optimism towards the market which has been evident in recent weeks may be running ahead of itself. The broadly flat picture for house... 1st March 2013 · 1 min read
UK Housing Market Data Response Land Registry Repeat Sales Index (Jan. 13) January’s house price data provide little evidence that the modest improvement in national house price indices in recent months has become any less reliant on the strength of London. 28th February 2013 · 1 min read
China Economics Update Housing still on unsustainable path A slowdown in property construction was the main reason that China’s economy slowed last year. Even so, the sector remains on an unsustainable path. It may be years before policymakers can sensibly... 28th February 2013 · 1 min read
US Housing Market Data Response Case-Shiller Prices & New Home Sales (Q4/Jan.) House prices ended 2012 on a high note and new home sales got off to a very strong start in 2013. Put simply, the housing recovery continues to accelerate. 26th February 2013 · 1 min read
Europe 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
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
