UK Housing Market Data Response Nationwide House Prices (May.) House prices slumped in May due to the economic fallout from the coronavirus. Given the magnitude of the economic shock, further price cuts are extremely likely. That said, we think the extensive... 2nd June 2020 · 2 mins read
Australia & New Zealand Data Response Australia - CoreLogic House Prices (May) We think the small decline in house prices in May marks the start of a larger downturn. We expect house prices to fall by 5-10% in the coming months. 1st June 2020 · 2 mins read
Australia & New Zealand Chart Pack Normal still a long way off As the lockdowns have largely come to an end in both countries, output is starting to recover. In New Zealand, most activity is now allowed to resume, though gatherings are limited to 100 people. In... 29th May 2020 · 10 mins read
US Housing Market Data Response Case-Shiller/FHFA & New Home Sales (Mar./Apr.) New home sales edged higher in April, after recording their largest month-on-month slump in over six years during March. The latest rise was in line with recent improvements in mortgage applications... 26th May 2020 · 2 mins read
China Economics Weekly US-China decoupling, property prices, trade outlook The main event this week is the opening of the National People’s Congress (NPC) later today. We’ll publish our analysis of the key NPC reports once they are released. The NPC aside, US-China tensions... 22nd May 2020 · 4 mins read
Australia & New Zealand Economics Update Australia - Investors won’t save the housing market Investors are not increasing their demand for housing and even if they did, owner-occupiers account for 70% of overall housing demand. The upshot is that investors won’t prevent house prices from... 20th May 2020 · 2 mins read
US Housing Market Update House price expectations turn negative Consumers now expect house prices to fall 2% over the next 12-months, the first negative reading since 2011. That will cut the amount buyers are willing to pay and, alongside a drop in rents, supports... 14th May 2020 · 3 mins read
UK Housing Market Data Response RICS Residential Market Survey (Apr.) With the housing market reopening, April’s slump in sales may be the market’s lowest point. But any recovery will start from a low base and face serious economic headwinds – from both weak employment... 14th May 2020 · 2 mins read
US Housing Market Chart Pack Sales heading to record lows The impact of the coronavirus is showing up in housing market activity. Pending home sales plummeted 21% m/m in March, which points to existing home sales falling to just over 4m annualised in April... 12th May 2020 · 9 mins read
UK Housing Market Update Can lockdown house price data be trusted? Low transactions volumes have made house price indices volatile and inaccurate. Indeed, the ONS has suspended publication of the official UK House Price Index, while the Halifax and Nationwide data... 11th May 2020 · 3 mins read
UK Housing Market Data Response Halifax House Prices (Apr.) House prices fell for a second consecutive month in April according to the Halifax index. But with low transactions activity likely to be causing extra volatility in the data, readings from the... 7th May 2020 · 2 mins read
US Housing Market Data Response Mortgage Applications (Apr.) Mortgage applications for home purchase were down overall in April, but saw a decent recovery over the second half of the month. Record low mortgage rates will have supported demand to some extent... 6th May 2020 · 2 mins read
UK Housing Market Update Mortgage holidays surge to two million The data now point to two million households with mortgage holidays. This suggests that the peak in arrears may be much higher than during the GFC. But, with mortgage credit quality and banks’... 5th May 2020 · 3 mins read
UK Housing Market Data Response Mortgage Lending (Mar.) Mortgage approvals for house purchase slumped by a hefty 24% in March. And with the coronavirus likely to have only cut lending in the second half of the month, we expect an even larger fall in April. 1st May 2020 · 2 mins read
UK Housing Market Data Response Nationwide House Prices (Apr.) April’s rise in annual house price growth won’t last. We suspect it reflects both low transaction volumes and delays to processing mortgage applications. As the economic hit to employment from the... 1st May 2020 · 2 mins read
Australia & New Zealand Chart Pack Easing lockdowns will boost growth The strict lockdowns have resulted in a massive drop in demand, but they have also been successful at ‘flattening the curve’ or reducing the number of new daily cases of Covid-19 in both countries... 30th April 2020 · 10 mins read
