US Housing Market Rapid Response

US Case-Shiller/FHFA House Prices (Feb. 2024)

The substantial shortage of existing homes for sale fueled a robust 0.4% m/m rise in house prices in February, consistent with our above-consensus call that house price growth will end 2024 at 5% y/y.

30th April 2024 · 2 mins read

London Housing Markets Chart Pack

London Housing Chart Pack (Q2 2024)

House price growth in London remains negative according to the ONS, but timelier measures of house prices and sentiment suggest that activity has picked up and prices are regaining momentum. The...

25th April 2024 · 1 min read

UK Commercial Property Update

Multifamily rents set to outperform

New more granular MSCI data shows that the outperformance of residential property over the past decade was primarily down to student housing. Indeed, only in the past couple of years have multifamily...

22nd April 2024 · 3 mins read

US Housing Market Rapid Response

US Existing Home Sales (Mar. 2024)

The fall in existing home sales in March was triggered by mortgage rates climbing back above 7% the month before. Even so, transactions remain above the trough at the end of last year, consistent with...

18th April 2024 · 2 mins read

UK Commercial Property Focus

Residential will continue to outperform

Residential has taken an increasing share of the professional investment universe over the last decade or more and we will be adding the sector to our next set of UK commercial property forecasts. Our...

11th April 2024 · 18 mins read

UK Housing Market Update

UK RICS Residential Market Survey (Mar. 24)

Cautious optimism from surveyors on prices and activity The slight increase in the balances for past prices and new buyer enquiries in the RICS Residential Market Survey for March showed that demand...

11th April 2024 · 3 mins read

UK Housing Market Update

How much should we read into the collapse in starts?

The further slump in housing starts in Q4 was a surprise, but timelier data and leading indicators suggest activity has since begun to recover. We are therefore happy with our forecast of a gradual...

5th April 2024 · 2 mins read

US Commercial Property Apartment Metros Outlook

Houston climbs to the top of the apartment rankings

We expect a surge in completions and a slowdown in employment growth to push vacancy higher in most of our 17 metros over the next year or so. Atlanta and Houston are two key exceptions to this rule...

4th April 2024 · 7 mins read

US Housing Market Rapid Response

US Case-Shiller/FHFA House Prices (Jan. 2024)

The fairly large gain in house prices in January points to a rebound in price growth driven by the fall in mortgage rates towards the end of last year. Although its early in the year, today’s data fit...

26th March 2024 · 3 mins read

US Housing Market Rapid Response

US Existing Home Sales (Feb. 2024)

Existing home sales rose in February which we think largely reflects the sharp fall in mortgage rates at the end of last year. But borrowing costs have been rising so far in 2024, which in the near...

21st March 2024 · 2 mins read

Event

US Real Estate Drop-In: Will southern metros continue to lead?

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The pandemic-induced “great migration” fuelled rapid growth for apartment rents and house prices in southern metros.

UK Housing Market Update

Rental market continues to contract

The more granular detail of mortgage lending in Q4 published by the Bank of England this morning added to the evidence that the Buy-to-Let (BTL) sector is contracting. Meanwhile arrears increased, but...

12th March 2024 · 3 mins read

UK Housing Market Update

The origin of the government’s 300,000 target

We have traced the government’s target of building 300,000 new homes a year in England back to the 2004 Barker Review. Rerunning the calculations two decades on suggests 385,000 new homes a year would...

4th March 2024 · 3 mins read

UK Housing Market Update

The Times: Why 99 per cent mortgages will make the housing crisis worse

A version of this report was originally published as an opinion piece in The Times on 28th February 2024.

28th February 2024 · 4 mins read

US Housing Market Rapid Response

US Case-Shiller/FHFA House Prices (Dec. 2023)

Another small rise in house prices in December suggests the extremely backward-looking data are still capturing a slowdown in price growth following the October peak in mortgage rates. That’s mainly...

27th February 2024 · 2 mins read