Canada Economics Update Booming housing construction still on uneven footing The recent strength in housing starts, mostly multiples, reflects strong new housing sales from over a year ago. However, home sales are now softening and the recent tightening of mortgage insurance... 11th July 2012 · 1 min read
UK Housing Market Data Response RICS Housing Market Survey (Jun.) The further deterioration in housing market demand in June was met with a broadly offsetting decline in supply. Nevertheless, a growing proportion of surveyors are reporting that house prices are... 10th July 2012 · 1 min read
Japan Economics Weekly A quick look at housing and land prices in Japan Land prices continue to drop in Japan despite having already been falling for over twenty years. During that period, house prices have risen on occasion, most recently in 2010. But in each case the... 9th July 2012 · 1 min read
Canada Economics Weekly Corporate cash piles could boost economic growth Canadian businesses are flush with cash. Even if just a small fraction of the cash held by the non-financial sector were used to boost dividends, we estimate it would significantly increase personal... 6th July 2012 · 1 min read
China Economics Update Property risks remain China’s frozen property market is showing signs of a thaw. Sales took off in the second half of June and prices are rising for the first time in months. Recovery in the sector would help haul the... 6th July 2012 · 1 min read
US Housing Market Data Response Mortgage Applications (Jun. 12) While another fall in mortgage rates saw remortgaging applications surge higher in June as a whole, applications for home purchase remained stuck in the doldrums. Nevertheless, this isn’t preventing a... 5th July 2012 · 1 min read
UK Housing Market Chart Pack Tight credit conditions will weigh on activity There was nothing in the past month’s data to change our view that the UK housing market will experience a long, drawn-out correction over the next few years. But with few signs that the euro-zone... 5th July 2012 · 1 min read
UK Data Response Halifax House Prices (June) The 1%m/m rise in the Halifax index in June does little to alter the underlying trend which shows that house prices are grinding lower, albeit only slowly. 5th July 2012 · 1 min read
UK Economics Chart Pack Inflation outlook improves The near-term inflation outlook has improved significantly in recent weeks. Inflation has fallen below 3% for the first time since the end of 2009. It will come under further downward pressure from... 4th July 2012 · 1 min read
UK Economics Focus Will the euro-zone crisis undermine London property values? Prices in London’s prime property markets, especially residential, look very vulnerable to a major financial market shock, or anything that might undermine investors’ desire to use London property as... 4th July 2012 · 1 min read
UK Data Response Housing Equity Withdrawal (Q1) The low level of housing equity withdrawal is an indication of how the subdued housing market may be limiting households’ ability and willingness to spend. 4th July 2012 · 1 min read
UK Data Response Mortgage Lending (May) May’s decline in mortgage approvals was surely related to the fact that lenders are once again reducing the availability of mortgage credit. Against a backdrop of renewed recession in the UK and the... 3rd July 2012 · 1 min read
US Housing Market Data Response CoreLogic House Prices (May) May’s 0.4% m/m rise in our seasonally-adjusted measure of CoreLogic house prices marks the fifth successive month in which prices have increased. While the recent strong pace of monthly house price... 2nd July 2012 · 1 min read
UK Housing Market Data Response Land Registry Repeat Sales Index (May) The North/South house price split widened further in May. On an annual comparison, house prices rose strongly in London and there were smaller gains in the East and South East. Elsewhere, house price... 2nd July 2012 · 1 min read
US Economics Weekly Industry easing, but housing healing It is striking just how quickly the easing in demand in Europe and certain parts of Asia has taken a toll on America’s industrial recovery. Thankfully, other parts of the economy have been affected by... 29th June 2012 · 1 min read
US Housing Market Update Is something amiss with seasonally adjusted house prices? Problems with the seasonal adjustment process, caused by the unusually high share of distressed sales in recent years, may be giving a misleading impression of the strength of house prices over the... 28th June 2012 · 1 min read
