US Housing Market Data Response Housing Starts (Sep.) Single-family starts and building permits have been stable over the past three months at around 1.1m annualised, as strong new home demand has run up against shortages of materials and labour. We... 19th October 2021 · 2 mins read
UK Housing Market Chart Pack Residential demand returns to London While the UK has seen house prices boom over the past year, central London has not joined in as increased remote working led buyers to shun the capital for more space in the suburbs and further afield... 18th October 2021 · 6 mins read
US Housing Market Chart Pack Rising mortgage rates will help cool booming prices Mortgage rates are on the rise and we expect they will see further gains to end the year at around 3.5%. That, alongside relatively tight credit conditions, will help cool rampant house price... 15th October 2021 · 9 mins read
UK Commercial Property Data Response Credit Conditions Survey (Q3 2021) An ongoing improvement in credit availability may offset the increase in Bank Rate we expect in 2022. That offers support to our forecast that mortgage rates will remain low. 14th October 2021 · 3 mins read
UK Housing Market Data Response RICS Residential Market Survey (Sep.) The RICS survey suggests that the housing market has shrugged off the deterioration in sentiment about the broader economy so far. Demand stabilised at a high level in September while stock remained... 14th October 2021 · 2 mins read
US Housing Market Update Will sales of condos continue to outperform? Sales of condos have been on tear in recent months, with their share in total existing home sales reaching a 14-year high in June. The reopening of cities helps explain that development, and condo... 7th October 2021 · 3 mins read
UK Housing Market Data Response Halifax House Prices (Sep.) The large rise in the Halifax house price index in September suggests that we are right to think that robust demand and limited inventory will mean that prices record further gains after the stamp... 7th October 2021 · 2 mins read
US Housing Market Data Response Mortgage Applications (Sep.) Home purchase applications rose for the first time in six months in September, even as mortgage rates increased to a 14-week high by the end of the month. But we expect a further rise in mortgage... 6th October 2021 · 2 mins read
UK Commercial Property Data Response IHS Markit/CIPS Construction PMI (Sep.) The further drop in the construction PMI in September suggested that the recovery in construction has faltered amid a severe lack of materials and staff, spiralling costs, and softening demand. 6th October 2021 · 2 mins read
US Housing Market Outlook Major Apartment Markets Outlook (Q3 2021) The apartment market is set for a stellar year. The reopening of cities is bringing vacancy rates down and pushing rents up, and strong investor demand has led to a sharp fall in yields. We expect... 1st October 2021 · 8 mins read
Canada Economics Weekly CMHC sounds the alarm (again) It’s hard to argue against the Canada Mortgage and Housing Corporation’s (CMHC) latest warning that house prices look vulnerable to a correction. Indeed, we expect prices to fall in several cities by... 1st October 2021 · 6 mins read
UK Housing Market Update Modest rate hikes won’t prevent house price gains We doubt that a larger rise in Bank Rate over the next two years than we previously expected will put much upward pressure on mortgage rates. Low interest rates and increased spending on housing costs... 1st October 2021 · 3 mins read
Australia & New Zealand Data Response Australia CoreLogic House Prices (Sep.) House prices have continued to surge despite the recent lockdowns. But we expect house price growth to slow next year as affordability constraints bite and macroprudential limits are imposed. 1st October 2021 · 2 mins read
UK Housing Market Data Response Nationwide House Prices (Sep.) The only small gain in house prices in September suggests that house price growth slowed as the stamp duty holiday was withdrawn. But with inventory limited and demand resilient, we suspect that house... 30th September 2021 · 2 mins read
US Housing Market Update Fall in first-time buyers will help boost inventory Soaring house prices and tight credit conditions have pushed the first-time buyer share to a joint six-year low which, alongside strong housing starts, has arrested the decline in the for-sale home... 29th September 2021 · 3 mins read
UK Housing Market Data Response Mortgage Lending (Aug.) While still above pre-COVID-19 levels mortgage approvals edged down in August, suggesting no great rush to move before the stamp duty holiday taper ends at the end of September. But an increase in the... 29th September 2021 · 2 mins read
