UK Commercial Property Data Response IHS Markit/CIPS Construction PMI (Feb.) The construction PMI rose to its highest level in eleven months in February. Although encouraging, supply constraints remain a major impediment and input costs high, which we think will limit growth... 4th March 2022 · 2 mins read
UK Housing Market Update Drop in sentiment suggests prices will lose some steam The sharp downturn in consumer confidence in February showed that the cost of living crisis was starting to bite even before the war in Ukraine began. But despite the worrying correlation between... 3rd March 2022 · 3 mins read
US Housing Market Data Response Mortgage Applications (Feb.) Mortgage rates rose further in February, reaching their highest since May 2019. That weighed on mortgage demand, with applications for home purchase falling to their lowest level since the spring of... 2nd March 2022 · 4 mins read
UK Housing Market Data Response Nationwide House Prices (Feb.) The further substantial rise in house prices in February took the increase since the pandemic began to a round 20% and begs the question whether house prices are getting too high. While we do think... 2nd March 2022 · 2 mins read
US Housing Market Update Are housing valuations reaching dangerous highs? House price-to-earnings ratios are approaching the peak hit just before the global financial crisis, and another year of strong house price growth would send them above that level. But while mortgage... 1st March 2022 · 3 mins read
UK Housing Market Data Response Mortgage Lending (Jan.) A third consecutive monthly rise in mortgage approvals suggests that housing market activity will remain higher than usual in the coming months as households continue to adjust to remote working. UK... 1st March 2022 · 2 mins read
Australia & New Zealand Data Response Australia CoreLogic House Prices (Feb.) Leading indicators remain consistent with solid house price growth, but if the recent moderation turns into an outright slump, the RBA will not hike rates as aggressively as we anticipate. 1st March 2022 · 2 mins read
UK Commercial Property Update The impact of the invasion of Ukraine on UK property Much has been made of UK property’s openness to Russian money following the invasion of Ukraine. But since the depreciation of the Russian ruble in 2014, Russians have become far less important to... 25th February 2022 · 3 mins read
US Housing Market Data Response New Home Sales (Jan.) After two strong months new home sales edged back in January and may dip further early in the year as the surge in borrowers who sought to buy prior to further interest rate rises washes through. But... 24th February 2022 · 2 mins read
UK Markets Markets right to bet on interest rates peaking at 2.00% Our forecast that lingering price pressures will prompt the Bank of England to raise interest rates from 0.50% now to a peak of 2.00% next year suggests there is little scope for market interest rate... 24th February 2022 · 12 mins read
UK Housing Market Chart Pack Homeowners to keep on moving in 2022 Homeowners appear to be pressing ahead with plans to move house even though stamp duty is now fully reinstated. Transactions inevitably dipped last October as sales were rushed through in September to... 23rd February 2022 · 8 mins read
US Housing Market Data Response Case-Shiller/FHFA House Prices (Dec.) Annual house price growth held steady in December, with prices up 18.8% over 2021. But with mortgage rates now at their highest since July 2019, affordability constraints will soon cut the amount... 22nd February 2022 · 2 mins read
US Housing Market Data Response Existing Home Sales (Jan.) Existing home sales jumped 6.7% m/m in January, but that gain is likely to prove short-lived. Strong activity over the turn of the year is due to households rushing to buy to lock in a low mortgage... 18th February 2022 · 2 mins read
US Housing Market Update Shift to South helps homes get bigger Working from home has increased the demand for larger properties, and in response the median size of new homes started at the end of last year was the largest since the start of 2019. Supporting that... 18th February 2022 · 3 mins read
US Housing Market Data Response Housing Starts (Jan.) Single-family starts fell for the second month in a row in January, but a rise in building permits to a one-year high means they will soon resume their upward trend. New home sales will be supported... 17th February 2022 · 2 mins read
Middle East & North Africa Economics Update Saudi mortgage boom brings new risks Mortgage lending in Saudi Arabia has ramped up sharply in recent years as the government has tried to push up homeownership among Saudi nationals. This has not provided much of a boost to property... 15th February 2022 · 5 mins read
