US Housing Market Focus Will New York City's housing market continue outperforming? House prices and residential sales activity in New York City look set to underperform the wider US housing market over the next few years. Valuations in NYC are less favourable than elsewhere, the... 28th January 2013 · 1 min read
US Housing Market Data Response New Home Sales (Dec. 12) It’s a disappointment that the level of new home sales in December was no higher than it was seven months earlier in May. But December’s new home sales report isn’t as bad as it first appears. 25th January 2013 · 1 min read
UK Housing Market Update What does the depreciation of sterling mean for prime London property? The slight drop in the value of sterling in recent months has reduced the value of prime London property held by overseas buyers. But with the euro-zone crisis only contained, rather than solved, we... 24th January 2013 · 1 min read
UK Housing Market Data Response BBA Mortgage Lending (Dec. 12) The recent growth in mortgage approvals appears to have stalled. While the FLS has helped to bring mortgage rates down, the depressed state of the economy is acting as a significant drag on housing... 24th January 2013 · 1 min read
US Housing Market Data Response Existing Home Sales (Dec. 12) The number of existing home sales fell in December, but the underlying trend in sales remains upwards. Moreover, supply conditions are still very tight. 22nd January 2013 · 1 min read
US Housing Market Data Response Housing Starts (Dec. 12) December’s surge in housing starts tops off an encouraging year for homebuilders. Given how far below normal levels starts remain even now, we expect further strong gains during 2013. 17th January 2013 · 1 min read
UK Housing Market Update Why has the FLS not helped bring down SVRs? The Funding for Lending Scheme (FLS), alongside other interventions, has helped bring down both long and short-term wholesale funding costs. But to date lenders have only passed these savings through... 17th January 2013 · 1 min read
US Housing Market Focus New mortgage rules won't hamper housing recovery The Consumer Finance Protection Bureau’s ability-to-repay rule, and within that its definition of a qualified mortgage, will not hamper the housing recovery. Mortgage-dependent buyers aren’t playing... 16th January 2013 · 1 min read
US Housing Market Data Response CoreLogic House Prices (Nov. 12) House prices rose again in November, both before and after applying seasonal adjustment. Consistent price increases throughout 2012 have started the process of lifting households out of negative... 15th January 2013 · 1 min read
UK Housing Market Data Response RICS Housing Market Survey (Dec. 12) The December RICS survey provided further evidence that the housing market strengthened towards the end of 2012. But it also suggested that the boost to lending activity from the FLS may be faltering. 15th January 2013 · 1 min read
UK Housing Market Outlook Little prospect of a housing market recovery in 2013 While house prices held up better than we expected towards the end of last year, the market’s underlying fundamentals remain unfavourable. Therefore, we have not made major adjustments to our housing... 14th January 2013 · 1 min read
UK Housing Market Chart Pack Positive end to 2012, but 2013 will bring further price falls The Funding for Lending Scheme has helped to ease conditions in the mortgage market somewhat, leading to a marginal improvement in housing market activity. But we expect unemployment to start to rise... 11th January 2013 · 1 min read
Canada Chart Pack Downward trend in housing investment will persist Housing starts continued to ease during the fourth quarter of last year, to an annualised 202,855, from 221,709 in the prior quarter. Nevertheless, it is possible that overall residential investment... 10th January 2013 · 1 min read
US Housing Market Chart Pack Fiscal cliff deal extends Mortgage Debt Relief Act The 11th hour deal to avert the fiscal cliff included a one-year extension of the Mortgage Debt Relief Act. The Act, which frees homeowners from paying tax on forgiven mortgage principal, has become... 10th January 2013 · 1 min read
Canada Economics Update Hopes abound for an unlikely housing soft landing The sharp slowdown in existing home sales is grim news for the new housing industry, which continues to build above population requirements. We expect these growing demand and supply imbalances to... 9th January 2013 · 1 min read
China Economics Update Stirring property sector reawakens over-investment fears Property construction in China still needs to slow further to return the real estate sector to a sustainable path. Accordingly, the recent pick-up in investment by developers should not be welcomed... 9th January 2013 · 1 min read
