UK Housing Market Update Mass exodus drains demand from London and Midlands Our analysis suggests that the apparent sudden drop in the population of the UK last year has led to a huge rise in vacancy rates in the London and Midlands rental markets. House prices in those... 8th February 2021 · 6 mins read
UK Housing Market Data Response Halifax House Prices (Jan.) The drop in the Halifax house price index in January confirmed that the turn of the year coincided with a change of momentum in house prices. We expect house prices to continue to drop back over the... 5th February 2021 · 2 mins read
Europe Commercial Property Update The future for city property In our Future of Property research, we identified important post-pandemic shifts in most real estate sectors. How these trends interact will be key to the outlook for the urban locations where most... 4th February 2021 · 6 mins read
US Housing Market Update Homeownership rate to hold steady in 2021 An improvement in the share of in-person interviews in the fourth quarter HVS survey helped bring the homeownership rate back down from its recent implausible highs. And, with home sales set to slow... 4th February 2021 · 3 mins read
US Housing Market Data Response Mortgage Applications (Jan.) The threat of higher interest rates drove mortgage demand higher in January, with refinancing activity seeing a particularly large gain. A narrowing spread means we expect the upcoming rise in... 3rd February 2021 · 2 mins read
Australia & New Zealand Economics Update Australia - Dwellings investment to rebound this year The recent surge in building approvals has largely been driven by the HomeBuilder Grant and probably won’t last. But with home sales soaring and house prices rising, dwellings investment should... 3rd February 2021 · 3 mins read
UK Housing Market Data Response Nationwide House Prices (Jan.) The small drop in Nationwide house prices in January, the first since June last year, is an early sign of the reversal in the 2020 house price surge we expect to see this year as the stamp duty... 2nd February 2021 · 2 mins read
Australia & New Zealand Data Response Australia - CoreLogic House Prices (Jan.) House prices are already rising at a solid pace but forward indicators suggest that the pace of gains is set to increase in the months ahead. 1st February 2021 · 2 mins read
China Chart Pack Surge in interbank rates a hawkish signal from PBOC Short-term funding costs for banks have risen sharply during the past couple of weeks. The 7-day depository repo rate (DR007), which has been flagged by the PBOC as a key benchmark and focus of... 29th January 2021 · 13 mins read
US Housing Market Data Response New Home Sales (Dec.) The small gain in new home sales in December continues the run of falling or weak sales seen since August of last year. That moderation in sales is set to persist in 2021, as worsening affordability... 28th January 2021 · 2 mins read
US Housing Market Update How big might the foreclosure wave be? We estimate a backlog of around 850,000 foreclosures will have built-up if the ban is extended until the end of September, similar to the peak seen during the financial crisis. However, not all those... 27th January 2021 · 3 mins read
UK Housing Market Outlook Near-term pain, medium-term gain Rising unemployment and the withdrawal of the raft of policies that supported the housing market in 2020 means that the pandemic will finally take its toll this year. The end of the stamp duty holiday... 27th January 2021 · 23 mins read
US Housing Market Data Response Case-Shiller/FHFA House Prices (Nov.) House price growth continued to surge in November, with both Case-Shiller and FHFA reporting strong gains. At 11% y/y, the rise in the FHFA index is the highest since records began in 1992. But the... 26th January 2021 · 2 mins read
Australia & New Zealand Economics Focus RBNZ to hike rates next year We now expect the RBNZ to tighten monetary policy in the years ahead as GDP growth, the labour market and inflation will be much stronger than the Bank has anticipated. We expect asset purchases to be... 26th January 2021 · 18 mins read
US Commercial Property Update Hospitality re-openings key to the outlook this year Leisure and hospitality re-openings were behind the strongest job growth in the Autumn, although national data for December suggest that this could be reversed on the back of renewed lockdowns. With... 22nd January 2021 · 3 mins read
US Housing Market Data Response Existing Home Sales (Dec.) Existing home sales recorded a marginal gain in December but are set to fall back over 2021. Mortgage rates will not decline any further and rising house prices have already reversed the boost to... 22nd January 2021 · 2 mins read
