UK Housing Market Update FPC hints that it will loosen lending rules Given a tightening in credit conditions, the Financial Policy Committee is probably right to be unconcerned by the recent surge in mortgage lending. In fact, the Committee is preparing to loosen its... 14th December 2020 · 3 mins read
Australia & New Zealand Economics Weekly Rating downgrades & pushback by the RBNZ While the credit rating downgrade of Victoria and New South Wales is justified given the deterioration in their fiscal outlook, we suspect that the RBA will continue to keep a lid on states’ borrowing... 11th December 2020 · 5 mins read
UK Housing Market Data Response RICS Residential Market Survey (Nov.) After mortgage approvals hit a 13-year high in October, surveyors reported that sales rose yet further in November to what they expect to be the high-water mark. With the outlook for employment shaky... 10th December 2020 · 2 mins read
US Housing Market Chart Pack Boom in house price growth will prove short-lived The surge in home sales looks to be running out of steam. The pending home sales index dropped back in September and October, and that points to a fall in existing home sales in November. With pent-up... 9th December 2020 · 8 mins read
UK Housing Market Chart Pack London house prices rally while rents drop The increase in working from home that appears to have led buyers to put less emphasis on location and more on space has not undermined London house prices. As of September, house price growth in the... 9th December 2020 · 7 mins read
UK Housing Market Data Response Mortgage Lenders and Administrators Statistics (Q3) The surge in mortgage lending to its highest level since before the financial crisis has come despite banks curbing riskier loans. If we are right to think that house prices will dip, that should... 8th December 2020 · 2 mins read
US Housing Market Update Early signs that exodus from cities is easing An important driver of the surge in home sales over recent months has been households leaving apartments in cities to escape COVID-19 and acquire more space to work from home. But a fall in the share... 7th December 2020 · 3 mins read
UK Housing Market Data Response Halifax House Prices (Nov.) There was no sign whatsoever of the surge in house prices abating in November as annual growth in the Halifax index rose to a fresh four-year high. Tight market dynamics suggest that prices will... 7th December 2020 · 2 mins read
UK Commercial Property Data Response IHS Markit/CIPS Construction PMI (Nov.) The rise in the headline construction PMI in November showed that the industry continued to recover even as overall economic activity probably contracted again. But builders’ optimism that this will... 4th December 2020 · 3 mins read
US Housing Market Update Vaccine will not provide a quick fix for real estate News about a vaccine has boosted financial markets and we have revised up our global economic expectations for the next two years or so. But while we think that this bodes well for the medium term... 2nd December 2020 · 3 mins read
Europe Commercial Property Update Vaccine will not provide a quick fix for real estate News about a vaccine has boosted financial markets and we have revised up our global economic expectations for the next two years or so. But while we think that this bodes well for the medium term... 2nd December 2020 · 3 mins read
UK Commercial Property Update Vaccine will not provide a quick fix for real estate News about a vaccine has boosted financial markets and we have revised up our global economic expectations for the next two years or so. But while we think that this bodes well for the medium term... 2nd December 2020 · 5 mins read
US Housing Market Data Response Mortgage Applications (Nov.) Issues with seasonal adjustment over the Thanksgiving holiday, when many more people stayed home and perhaps applied for a mortgage, led to a spike in home purchase mortgage applications in the final... 2nd December 2020 · 2 mins read
UK Housing Market Data Response Nationwide House Prices (Nov.) Despite GDP being set for its biggest fall in 300 years this year, annual house price growth accelerated to its highest rate since January 2015 in November. The divergence has only been possible due... 1st December 2020 · 2 mins read
Australia & New Zealand Data Response Australia - CoreLogic House Prices (Nov.) House prices are now rising in Australia and we reiterate our forecast that house prices will rise by 7% in 2021, though the risks look skewed to the upside. 1st December 2020 · 2 mins read
UK Commercial Property Data Response Lending to commercial property (Oct.) Net lending turned negative in October. We think this can be explained by weaker investment activity and a return to more regular loan repayments after earlier payment holidays. Looking ahead, we... 30th November 2020 · 2 mins read
