UK Housing Market Data Response Mortgage Lending (Sep.) Today’s fall in mortgage approvals is consistent with other evidence that household finances are under strain and confidence is very weak. It looks as though the modest recovery in mortgage lending... 31st October 2011 · 1 min read
UK Housing Market Update Is London’s outperformance built on flimsy foundations? London has been reliant on a handful of the most expensive boroughs to deliver positive house price growth over the past year. To our minds, that leaves house prices in the capital looking susceptible... 29th October 2011 · 1 min read
UK Housing Market Data Response Land Registry Repeat Sales Index (Sep.) With few bright spots in the wider economic recovery, the marginal pace of house price falls recorded in September is only likely to increase moving into next year. 29th October 2011 · 1 min read
US Housing Market Data Response New Home Sales (Sep.) Even after the 5.7% m/m rebound in new home sales to 313,000 annualised in September, from 296,000 the month before, purchases are still close to a record low and only a quarter of what they were... 27th October 2011 · 1 min read
US Housing Market Data Response Case-Shiller House Prices (Aug.) The latest report on house prices from Case-Shiller suggest that the housing market has been a little bit softer than previously thought. In seasonally adjusted terms, the Case-Shiller 20-City house... 26th October 2011 · 1 min read
UK Housing Market Data Response BBA Mortgage Lending (Sep.) It is too early to tell whether the latest fall in the BBA mortgage approval numbers is the beginning of a renewed downward trend. However, against the gloomy economic outlook and difficult conditions... 26th October 2011 · 1 min read
US Housing Market Data Response Existing Home Sales (Sep.) The modest fall in existing home sales in September shows that the housing market is struggling to gain any traction in this poor economic climate. In fact, it is hard to see home sales rising at all... 21st October 2011 · 1 min read
UK Housing Market Update Is the house price correction about to pick up pace? Our forecasts already envisage that the pace of house price falls will increase next year. With most of the recent downgrade to our economic forecasts accounted for by the deteriorating prospects for... 21st October 2011 · 1 min read
US Housing Market Data Response Housing Starts (Sep.) The 15% m/m rise in housing starts in September comes hot on the heels of the rise in the NAHB homebuilders' index to a 17-month high in October and suggests that housing may finally be helping the... 20th October 2011 · 1 min read
UK Housing Market Update How well founded is the rise in house prices in the South? Yesterday’s report by Rightmove illustrated the huge North/South divide in average asking prices. But the fact that this North/South split is notable by its absence from the transactions data suggests... 19th October 2011 · 1 min read
US Housing Market Update Low demand constraining sales, not low supply Recent suggestions that home sales are being held back by a lack of inventory are misguided as the excess inventory may still amount to one million homes. Moreover, the "shadow inventory" may consist... 18th October 2011 · 1 min read
Canada Economics Weekly Could housing investment growth re-accelerate? The recent surge in multi-unit housing starts indicates that new construction activity could boost overall residential investment growth for at least one or two more quarters, possibly even into early... 18th October 2011 · 1 min read
UK Housing Market Outlook A weak labour market will keep the housing market depressed House prices are likely to end 2011 in line with, or marginally lower than, last year. That will do little to alleviate the extent to which housing is overvalued. Against this backdrop, and with the... 13th October 2011 · 1 min read
UK Economics Update Regional Monitor (Sep.) The latest regional data suggest that the northern regions of the UK have recently managed to grow at a similar, albeit sluggish, pace to those in the South. However, conditions in the northern labour... 13th October 2011 · 1 min read
UK Housing Market Data Response RICS Housing Market Survey (Sep) The RICS Housing Market Survey suggests that the market remained in limbo in September. In particular, there was nothing in the survey to provide hope that the recent rise in mortgage approvals was... 12th October 2011 · 1 min read
US Housing Market Data Response CoreLogic House Prices (Aug.) The 0.4% m/m decline in CoreLogic's measure of house prices in August may be the start of the renewed modest acceleration in price declines that we have been warning about. Prices may still stabilise... 7th October 2011 · 1 min read
