UK Housing Market Update How significant is the collapse in house prices in terms of gold? Taken at face value, the seven year decline in house prices expressed in gold might suggest that, relative to the precious metal, house prices are now ripe to recover. Yet in reality, we don’t think... 7th September 2011 · 1 min read
US Housing Market Update FHFA's new house price index still falls short The FHFA's new "expanded-data" house price index is better than its other indices as it includes some purchases made with cash and non-conforming loans. However, as it is still a less comprehensive... 7th September 2011 · 1 min read
UK Data Response Nationwide House Prices (Aug.) August’s drop in average house prices may be little more than noise in the broadly flat trend seen in recent months. But with the recovery faltering and consumer confidence weakening it could also... 2nd September 2011 · 1 min read
US Housing Market Data Response CoreLogic House Prices (Jul.) We are wary of reading too much into CoreLogic's fairly optimistic house price report for July, which showed that seasonally adjusted prices fell by just 0.1% m/m, when prices have yet to respond to... 1st September 2011 · 1 min read
UK Housing Market Data Response RICS Lettings Survey (Jul.) Rental demand remained healthy in the three months to July. But there was tentative evidence that high rents may be beginning to take their toll. In any event, surveyors have become slightly less... 1st September 2011 · 1 min read
US Housing Market Data Response Case-Shiller House Prices (Q2) With the economy weakening again, confidence falling and the labour market recovery faltering the rise in Case-Shiller house prices in the second quarter probably does not mark the end of the housing... 31st August 2011 · 1 min read
UK Housing Market Data Response Mortgage Lending (Jul.) The latest rise in mortgage lending may be a response to the increasingly competitive mortgage interest rates available to some borrowers in recent months. However, demand still remains depressed... 31st August 2011 · 1 min read
UK Housing Market Data Response Land Registry Repeat Sales Index (Jul.) July’s rise in house prices is the largest month-on-month rise since early 2010. However, prices remain well below pre-crisis levels. Moreover, with the squeeze on household finances set to continue... 27th August 2011 · 1 min read
US Housing Market Data Response New Home Sales (Jul.) The 0.7% m/m decline in new home sales in July built on the downward trend of the previous six months and highlights just how fragile the housing market remains five years after boom first turned to... 24th August 2011 · 1 min read
UK Housing Market Data Response BBA Mortgage Lending (Jul.) July’s rise in mortgage approvals extends to three months the period over which mortgage market activity has been on the increase. But with the economic recovery hitting the buffers, this is unlikely... 24th August 2011 · 1 min read
US Housing Market Data Response Mortgage Delinquencies (Q2) The most worrying thing about the modest rise in the mortgage delinquency rate in the second quarter is that it was due to more homeowners falling behind on their mortgage payments for the first time... 23rd August 2011 · 1 min read
Canada Economics Weekly House prices vulnerable to swing in "animal spirits" Canadian house prices have formed a bubble and are vulnerable to a sudden loss of investor confidence. As such, we continue to expect prices to fall substantially over the next few years, which will... 23rd August 2011 · 1 min read
UK Housing Market Focus Will there be a shortage of buy-to-let lending? Over the next five years, favourable margins and low rates of payment problems mean that lenders will be able and willing to meet landlords’ growing demand for buy-to-let mortgages. Hence, a lack of... 20th August 2011 · 1 min read
US Housing Market Data Response Existing Home Sales (Jul.) The 3.5% m/m fall in existing home sales in July shows that the housing market will not pull the US economy out of its current malaise. In fact, it appears that the recent economic slowdown has... 19th August 2011 · 1 min read
UK Housing Market Update Will valuations be restored by a period of stable house prices? If the recent pattern of flat house prices and modest income growth were to continue, it would take over a decade for the house-price-to-earnings (HPE) ratio to return to its long-run average. However... 16th August 2011 · 1 min read
UK Housing Market Data Response CML Buy-To-Let Lending (Q2)2 Buy-to-let (BTL) lending bounced back in Q2 from the first quarter’s dip. However, lending is still very subdued compared to pre-recession levels and, in view of the faltering economic recovery, the... 12th August 2011 · 1 min read
