UK Commercial Property Data Response IHS Markit/CIPS Construction PMI (Sep.) The fall in the headline construction PMI in September suggests that construction output contracted in Q3. For the commercial property sector, the softer supply pipeline may limit rental values falls... 2nd October 2019 · 2 mins read
UK Housing Market Data Response Nationwide House Prices (Sep.) The subdued picture for house price growth is unlikely to improve anytime soon. Even if a no deal Brexit disruption is avoided, we think high house prices, mortgage regulation and rising interest... 1st October 2019 · 2 mins read
Australia & New Zealand Data Response CoreLogic House Prices (Sep.) The 10% annualised rise in house prices in September is unsustainable in light of sluggish income growth. We expect prices to rise by a slower 5% in 2020 and 2021. 1st October 2019 · 2 mins read
Australia & New Zealand Chart Pack Not living up to their potential Economic growth has continued to ease in both countries in the first half of 2019. In Australia, GDP growth eased to 1.4% y/y in Q2. And while the government’s tax cuts may mean that consumption... 30th September 2019 · 10 mins read
US Housing Market Update Pending home sales taking longer to close A surge in demand for refinancing has stretched lenders’ capacity, lengthening the time it takes to close a mortgage. That has disrupted the usual relationship between pending and existing home sales... 26th September 2019 · 3 mins read
Wealth effects more important than HELOCs alone The Bank of Canada’s latest research implies that home equity extraction has had only modest effects on consumer spending and GDP. Once we consider the total wealth effects, however, the significance... 26th September 2019 · 3 mins read
US Housing Market Data Response New Home Sales (Aug.) The volatility in new home sales continued into August, with a rise of 7.7% m/m not quite reversing the fall recorded in July. Flat demand for home purchase mortgages over the past couple of weeks... 25th September 2019 · 2 mins read
UK Housing Market Data Response UK Finance Mortgage Lending (Aug.) August’s fall in house purchase mortgage approvals more than reversed July’s rise. And while price competition among mortgage lenders remains fierce, this has largely not translated into higher... 25th September 2019 · 2 mins read
US Housing Market Data Response Case-Shiller / FHFA House Prices (Jul.) The gradual slowdown in house price growth seen over the past year came to a halt in July. Case-Shiller reported annual growth was unchanged at 3.2%, and the FHFA recorded a slight acceleration to 5.0... 24th September 2019 · 2 mins read
UK Housing Market Chart Pack London Housing Chart Book: More price falls to come The brief rise in London buyer activity proved to be short lived, suggesting that the capital’s housing market malaise has further to run. Indeed, even if a no-deal Brexit is avoided, we expect London... 24th September 2019 · 7 mins read
UK Housing Market Update Mortgage interest rates close to their floor Increased competition among lenders has caused mortgage interest rates to fall in recent months. But funding costs are set to remain pretty stable. That, combined with already tight interest margins... 20th September 2019 · 3 mins read
US Housing Market Data Response Existing Home Sales (Aug.) Existing home sales increased for the second consecutive month in August, to reach an 18-month high. But a number of factors argue against a sustained rise in activity. Demand for home purchase... 19th September 2019 · 2 mins read
Teranet House Prices (Aug.) House price inflation picked up for the first time in nine months in August and the improvement in the sales-to-new listing ratio this year suggests that it will rise further. 19th September 2019 · 2 mins read
India Chart Pack Reigniting reforms The latest activity data for India have been disappointing but, despite the economy’s recent soft patch, developments over the past month should boost optimism over long-run prospects. In late August... 19th September 2019 · 9 mins read
UK Housing Market Update Would a stamp duty cut boost transactions? Stamp duty changes previously hinted at by the Prime Minister could affect over half of all home buyers, with more expensive homes seeing substantial savings. While the effect on house prices would be... 19th September 2019 · 3 mins read
US Housing Market Data Response Housing Starts (Aug.) Even ignoring the surge in volatile multifamily starts, August was a good month for homebuilding. Single-family starts and permits both saw decent gains, as low mortgage interest rates, a solid labour... 18th September 2019 · 2 mins read
