UK Housing Market Update Affordability has improved, but the correction is far from over This morning’s Daily Telegraph reported that, according to Lombard Street Research, housing affordability is now better than its long-term average. That much is uncontroversial. However, we disagree... 14th April 2009 · 1 min read
UK Housing Market Focus Is the rise in buyer interest enough to trigger a recovery? Given the severity of the decline in buyer interest over the past year or two, the recent reported increase is just a drop in the ocean. Buyer interest will need to rise significantly further before... 2nd April 2009 · 1 min read
UK Housing Market Update No news on mortgage lending restrictions...yet. Today’s Turner Review confirmed that the FSA is actively considering imposing limits on mortgage loan to value or loan to income ratios. Whether or not that is in the economy’s long term interest... 18th March 2009 · 1 min read
UK Housing Market Focus What are auction prices telling us? The price of property sold at auction provides a useful steer on where the true market clearing price might be. It suggests that the market clearing price for residential property might already be... 16th March 2009 · 1 min read
US Economics Weekly Housing no longer over-valued, but prices to continue falling 2nd March 2009 · 1 min read
UK Economics Update Northern Rock won’t transform the mortgage market overnight Although welcome, the resumption of lending by Northern Rock will not transform the mortgage market outlook overnight. However, it is also a sign that the Government is increasingly willing to... 23rd February 2009 · 1 min read
UK Economics Update Northern Rock won’t transform the mortgage market overnight Although welcome, the resumption of lending by Northern Rock will not transform the mortgage market outlook overnight. However, it is also a sign that the Government is increasingly willing to... 23rd February 2009 · 1 min read
UK Housing Market Update Northern Rock won’t transform the mortgage market overnight Although welcome, the resumption of lending by Northern Rock will not transform the mortgage market outlook overnight. However, it is also a sign that the Government is increasingly willing to... 23rd February 2009 · 1 min read
UK Housing Market Focus What is the fair value level for house prices? To our minds, the weight of evidence suggests that the fair value level for house prices is currently in the region of £125,000. For context, that figure is some 17% below the Nationwide’s estimate of... 16th February 2009 · 1 min read
UK Economics Update House price falls to exceed 35% The Nationwide and Halifax indices show that house prices are now almost 20% below their peak, meaning that there is still some way to go before our forecast of a 35% peak-to-trough fall is delivered... 6th February 2009 · 1 min read
UK Housing Market Update House price falls to exceed 35% The Nationwide and Halifax indices show that house prices are now almost 20% below their peak, meaning that there is still some way to go before our forecast of a 35% peak-to-trough fall is delivered... 6th February 2009 · 1 min read
UK Economics Update House price falls to exceed 35% The Nationwide and Halifax indices show that house prices are now almost 20% below their peak, meaning that there is still some way to go before our forecast of a 35% peak-to-trough fall is delivered... 6th February 2009 · 1 min read
UK Housing Market Focus Mortgage arrears and possessions to rise to a record high Thanks to sharply rising unemployment, we expect mortgage arrears to surpass the early 1990s highs. While Government pressure on lenders to be more lenient with struggling households and the... 15th January 2009 · 1 min read
Europe Economics Update Falling house prices add to the gloom in Spain The latest news from Spain shows that the housing market downturn is gaining momentum as the economy enters recession. Further sharp falls over the coming quarters are inevitable and we expect house... 15th January 2009 · 1 min read
UK Housing Market Focus What is the outlook for new-build prices? In contrast to the average homeowner, house-builders’ operational survival directly depends on their ability to sell their properties. Accordingly, house-builders will be more willing to drop property... 22nd December 2008 · 1 min read
UK Housing Market Update Rise in new buyer enquiries needs to be treated with caution At first glance, yesterday brought some rare positive news from the beleaguered housing market. According to the CML, first-time buyers’ share of mortgage lending rose to a three-and-a-half year high... 10th December 2008 · 1 min read
