Australia & New Zealand Chart Pack Economies coming roaring back Restrictions on activity have lifted in both countries. While some states in Australia still limit the size of groups and capacity at restaurants, New Zealand has now lifted all domestic restrictions... 30th June 2020 · 10 mins read
UK Housing Market Data Response Mortgage Lending (May) Despite the housing market reopening half-way through May, house purchase mortgage approvals once again fell sharply. But signs of a bounce back in buyer demand in June, combined with resilient... 29th June 2020 · 2 mins read
UK Housing Market Update How will the high LTV withdrawal hit lending? The recent withdrawal of high LTV products could impede as many as one in four prospective first-time buyers. More broadly, tighter credit conditions reinforce our view that, despite signs of a surge... 26th June 2020 · 3 mins read
US Housing Market Data Response FHFA House Prices (Apr.) Following a gain of 0.1% m/m in March, the modest 0.2% m/m rise house prices in April shows a marked weakening in house price growth. It is too soon to tell how much of an impact the coronavirus has... 24th June 2020 · 2 mins read
US Housing Market Data Response New Home Sales (May) New home sales reversed most of their coronavirus related decline in May, helped by the gradual reopening of the country. A healthy level of inventory means new sales are well-placed to take advantage... 23rd June 2020 · 2 mins read
US Housing Market Data Response Existing Home Sales (May) Existing home sales saw another substantial decline in May but with the country reopening, and housing demand surging on the back of record low mortgage interest rates, we suspect they have now... 22nd June 2020 · 2 mins read
UK Housing Market Update Rental market isn’t out of the woods The rental market data have been surprisingly resilient. But informal rent cuts may be happening under the radar, while government support has delayed the crunch point for households. As a result, we... 18th June 2020 · 3 mins read
House prices to prove less resilient than construction Housing starts have remained relatively high in recent months. But given the hit to employment, falling rents and signs many are struggling with mortgage payments, house prices are unlikely to be as... 12th June 2020 · 4 mins read
US Housing Market Update Will the rental market bounce back? The factors that drove the resurgence in home purchase mortgage demand, including record low mortgage rates, the need for more space and the anticipation of finding a bargain, will not give a similar... 11th June 2020 · 3 mins read
UK Housing Market Data Response RICS Residential Market Survey (May.) May’s RICS survey points to a modest fall in house prices. But the rest of the survey is harder to interpret. It suggests that activity fell from April’s already very low level, despite lockdown... 11th June 2020 · 2 mins read
US Housing Market Chart Pack Home purchase mortgage applications surge By the end of May, mortgage applications for home purchase had fully reversed their earlier drop. New home sales have also performed better than expected, with a surprise month-on-month rise in April... 9th June 2020 · 9 mins read
UK Housing Market Data Response Mortgage Lenders and Administrators Statistics (Q1) High LTV lending was already edging down before the coronavirus hit, as competitive pressures among banks plateaued. But lenders have since withdrawn such loans en masse, owing to fears of a house... 9th June 2020 · 2 mins read
UK Housing Market Data Response Halifax House Prices (May.) According to the Halifax index, house prices fell for a third consecutive month in May as lockdown was eased. But the fall of 0.2% m/m was very gradual. That supports our view that house prices will... 5th June 2020 · 2 mins read
Australia & New Zealand Economics Update Australia - Homebuyer grants won’t prevent falling house prices The government today unveiled a grant for buyers of new homes. While grants for first-time home buyers boosted home sales during the global financial crisis, the new scheme won’t offset the impact of... 4th June 2020 · 3 mins read
US Housing Market Data Response Mortgage Applications (May) Mortgage applications for home purchase have risen in each of the past seven weeks, and in May were up 2.7% y/y. With the unemployment rate at a record high, that strength in demand is surprising... 3rd June 2020 · 2 mins read
UK Housing Market Data Response Mortgage Lending (Apr.) House purchase mortgage approvals fell by 71.8% m/m in April – broadly in line with our expectations. Looking ahead, with the housing market having reopened in May, that probably marks a low point... 2nd June 2020 · 2 mins read
