Canada Economics Weekly Low vacancy rates don't mean what you might think The low rental vacancy rate in Canada is often linked to strong immigration growth and presented as a reason why the current strength in new condo sales and multi-unit construction can be sustained in... 27th February 2012 · 1 min read
US Housing Market Data Response New Home Sales (Jan.) The new homes market is finally benefitting from the recent improvement in housing demand. But with new homes only available at an extremely high premium relative to existing homes, the recovery in... 24th February 2012 · 1 min read
UK Housing Market Data Response BBA Mortgage Lending (Jan.) Mortgage approvals for house purchase made by the major banks hit a two-year high in January. But unless they are mirrored in the more comprehensive Bank of England data released next week, they may... 23rd February 2012 · 1 min read
US Housing Market Data Response Existing Home Sales (Jan.) The 4.3% m/m rise in existing home sales in January is not quite as encouraging as it first appears given that it comes at the expense of a 5.0% downward revision to the previous month’s figures. The... 22nd February 2012 · 1 min read
UK Housing Market Update Could increased Chinese demand boost London house prices? Recent growth in the number of Chinese buyers in the London residential market has raised hopes (or fears) that as and when the renminbi becomes fully convertible the floodgates could open. However... 21st February 2012 · 1 min read
Nordic & Swiss Economics Update Swedish rate cut unlikely to be the last The Swedish Riksbank indicated that it expects its latest 25 basis point interest rate cut to be the last in the cycle. But we expect the adverse knock-on effects from an intensification of the euro... 16th February 2012 · 1 min read
US Housing Market Data Response Mortgage Delinquencies (Q4) The decline in mortgage delinquencies in the fourth quarter is another positive development for the housing market, but the foreclosure pipeline remains full to bursting. If the robo-signing... 16th February 2012 · 1 min read
US Housing Market Data Response Housing Starts (Jan.) January’s housing starts data support our view that homebuilders are shaking off the shackles of the last five years and are beginning to contribute to GDP growth. That said, the housing sector is... 16th February 2012 · 1 min read
UK Economics Update Regional Monitor (Feb.) Most of the UK regions shared in the improvement in output growth suggested by the national and global activity surveys in January. But labour and housing markets in the North are continuing to fare... 16th February 2012 · 1 min read
UK Housing Market Update How big is the problem of latent mortgage distress? Data released last week confirmed the downward trend in mortgage arrears and possessions. The popular perception is that both have benefitted from low interest rates and the relatively benign labour... 15th February 2012 · 1 min read
UK Housing Market Data Response RICS Housing Survey & CLG House Prices (Jan/Dec) Housing sales may be receiving a moderate boost from the looming expiry of the latest stamp duty holiday in March. But today’s RICS survey showed that buyer enquiries dropped back in January. This... 14th February 2012 · 1 min read
US Housing Market Chart Pack Slightly easier credit supporting sales The rise in home sales in each of the three months to December is the clearest sign yet that a modest housing market recovery is underway. The fact that mortgage approvals are still subdued, however... 9th February 2012 · 1 min read
US Housing Market Update Robo-signing settlement doesn't change the big picture News that the $25bn robo-signing settlement has been finalised is good for those homeowners who will benefit from the principal reductions and refinancing schemes that form part of the deal. But the... 9th February 2012 · 1 min read
UK Housing Market Data Response Mortgage Arrears and Possessions (Q4) Mortgage arrears and possessions declined in the final quarter of last year and were at their lowest level for four years in 2011 as a whole. But it is difficult to envisage a repeat performance in... 9th February 2012 · 1 min read
UK Housing Market Data Response CML Buy-To-Let Lending (Q4) Buy-to-let was a bright spot within a subdued mortgage market last year. But activity ground to a halt in the fourth quarter – a reminder that landlords are not immune to the fears of a double-dip... 9th February 2012 · 1 min read
Canada Economics Update Housing juggernaut on uneven footing The latest building permits and housing starts data indicate that new housing construction is not slowing down much. Although this is good for economic activity this quarter, we are still concerned... 8th February 2012 · 1 min read
