US Housing Market Update How concerning is the high contract cancellation rate? It’s obviously not good that 15% or more of all contracted home sales aren’t making it through to closing. But to the extent that the increase in the cancellation rate reflects would-be buyers’ desire... 13th September 2012 · 1 min read
Canada Chart Pack High household debt difficult to hurdle Households have been running a financial deficit for over a decade, a significant departure from their normal role as net savers, resulting in a massive increase in household debt. This trend has... 12th September 2012 · 1 min read
US Housing Market Chart Pack Land values begin to rise The combination of rising sales volumes and a dwindling inventory of homes for sale saw house prices rise again in the latest data. Depending on which of the major house price indices we look at... 12th September 2012 · 1 min read
UK Housing Market Data Response FSA Mortgage Lending Statistics (Q2) Mortgage arrears continued to decline in Q2, and there is some tentative evidence that high LTV lending is starting to recover. But with mortgage rates still edging higher, tight credit conditions... 11th September 2012 · 1 min read
China Economics Update Hong Kong property still heading for a crash The Hong Kong government has introduced a number of measures to improve housing affordability. We don’t believe these measures will have their intended effect, and that in the short-term property... 11th September 2012 · 1 min read
UK Housing Market Data Response RICS Housing Market Survey (Aug.) The main survey balances from the RICS were broadly unchanged in August. Activity remains very depressed, and prices are continuing to drift lower. But surveyors are still hopeful that sales will rise... 11th September 2012 · 1 min read
UK Housing Market Update Is past exuberance still holding back housebuilding? Today’s announcement of a raft of new policy measures designed to boost housebuilding and revitalise the economy are a welcome development. But, over-optimistic expectations during the boom have left... 6th September 2012 · 1 min read
US Housing Market Outlook Softer economy unlikely to derail housing recovery The softer pace of economic growth in the second half of the year may lead to a slight moderation in the pace of house price gains. But the bigger picture is that growing buyer interest and a tight... 6th September 2012 · 1 min read
UK Economics Update Will the house-building package deliver? Of the raft of policies announced since the Government returned after the summer break, today’s measures to boost house-building are perhaps likely to have the biggest economic impact. That said, they... 6th September 2012 · 1 min read
China Economics Focus Ten key questions about China’s property market China’s economic prospects depend in large part on what happens to its property market. In this Focus, we answer the key questions on affordability, empty housing and over-investment that will... 6th September 2012 · 1 min read
UK Housing Market Data Response Halifax House Prices (Aug) The small drop in house prices in August provides further evidence that prices are on a gradual downwards trajectory. And there is little in either the housing or wider economic data to suggest that... 6th September 2012 · 1 min read
Canada Economics Update Bank persists with tightening bias The Bank of Canada continues to insist that its policy rate will eventually need to rise from the current 1.0%, even as the global economic slowdown intensifies and the domestic housing boom shows... 5th September 2012 · 1 min read
US Housing Market Data Response Mortgage Applications (Aug. 12) Mortgage applications for home purchase fell sharply in August, providing further evidence that mortgage-dependent buyers are barely contributing to the recovery in housing market activity. Without a... 5th September 2012 · 1 min read
US Housing Market Data Response CoreLogic House Prices (Jul.) Despite the slowdown in the pace of wider economic growth, house prices are growing strongly. Moreover, the recovery looks broad based, encompassing both distressed and non-distressed homes. 4th September 2012 · 1 min read
UK Commercial Property Data Response Construction PMI (Aug.) and Mergers & Acquisitions (Q2) For the first time since early 2010, August saw the commercial property construction PMI dip below 50. Meanwhile, mergers and acquisitions activity remained very low in Q2. As signals of continued... 4th September 2012 · 1 min read
UK Housing Market Data Response Nationwide House Prices (Aug. 12) This month’s strong rise in house prices is something of a surprise, given the weak level of activity in the housing market and economy more generally. It is therefore unlikely that price rises will... 31st August 2012 · 1 min read
