UK Commercial Property Data Response Bank of England Credit Conditions Survey (Q2) The availability of credit in both the residential and commercial property markets fell in Q2. And because of tight wholesale funding conditions, surely related to problems in the euro-zone, lenders... 28th June 2012 · 1 min read
UK Housing Market Data Response Nationwide House Prices (June) On its own, the latest modest drop in the Nationwide house price index is not hugely significant. But since the turn of the year, the picture of flat house prices seems to have given way to a new... 28th June 2012 · 1 min read
UK Housing Market Data Response BBA Mortgage Lending (May) May’s mortgage lending data were unambiguously weak and offered further grounds for concern about the impact that the escalating euro-zone crisis is having on both UK confidence and credit conditions... 27th June 2012 · 1 min read
US Housing Market Data Response Case-Shiller House Prices (Apr.) The recent strong upwards momentum in house prices may not be sustained for much longer. Nevertheless, 2012 should mark not only the end of the US house price downturn, but the first year since 2006... 26th June 2012 · 1 min read
US Housing Market Data Response New Home Sales (May) Despite the unusually high price of new homes relative to their pre-owned equivalents, new home sales rose strongly in May. The implication appears to be that Americans are becoming more willing to... 25th June 2012 · 1 min read
Canada Economics Update Tighter mortgage rules likely to curb housing activity The finance department's surprise announcement earlier today to tighten the screw further on mortgage insurance rules starting in early July is prudent action in our view, given the elevated risks... 21st June 2012 · 1 min read
UK Housing Market Update Higher value mortgage approvals - a sign of tighter credit conditions? Since the turn of the year, the average value of new mortgages being approved has jumped by 10%. Unfortunately, that rise is more likely to be evidence that credit conditions are deteriorating than a... 21st June 2012 · 1 min read
US Housing Market Data Response Housing Starts (May) The 4.8% m/m fall in housing starts in May could be an early sign that the recent slowdown in the wider economy has taken some of the wind out of the sails of the improvement in housing market... 19th June 2012 · 1 min read
US Housing Market Update A stronger outlook for house prices? The improvement in housing market activity has not only put a floor under house prices, but, in recent months, has driven them higher. With the big caveat that much depends on how severe the effects... 14th June 2012 · 1 min read
Japan Economics Update Business conditions tougher than expected but optimism remains The government’s Business Outlook Survey indicates conditions deteriorated slightly in Q2, confounding Q1’s forecasts of a strong recovery. Despite the tougher-than-expected environment, firms remain... 11th June 2012 · 1 min read
Canada Economics Weekly Housing construction likely to keep on giving The latest permit data indicate that condo developments continue to be the main source of strength in new housing construction, which has showed little sign of slowing. Given the lengthy construction... 11th June 2012 · 1 min read
US Housing Market Chart Pack Modest housing improvement still holding up The weaker tone of the economic and labour market data has yet to be reflected in the housing numbers. Home sales rose by 3.4% m/m in April and are 10% higher than a year ago. The fact that improving... 8th June 2012 · 1 min read
UK Data Response Halifax House Prices (May) The small rise in the Halifax house price index for May seems to be in keeping with other evidence that house prices are stuck in a rut, at least at the national level. 7th June 2012 · 1 min read
US Housing Market Data Response Mortgage Applications (May) The small fall in mortgage applications for home purchase suggests that, despite record low mortgage rates, the renewed weakness in the labour market is starting to weigh on housing demand. 6th June 2012 · 1 min read
UK Data Response Nationwide House Prices (May) Today’s data from the Nationwide show that house prices continue to tread water. In terms of the outlook, however, downside risks, such as further falls in GDP, dominate the upside. We continue to... 31st May 2012 · 1 min read
UK Data Response Mortgage Lending (Apr.) The Bank of England measure of mortgage approvals for April does nothing to change the picture of a depressed mortgage market. With escalating tensions in the euro-zone likely to curb further the... 30th May 2012 · 1 min read
