US Housing Market Update Where will new single-family homes be built? For the most part, states with strong income growth and low homeowner vacancy rates will see the largest gains in single-family housing starts. The majority of those are in the West, although Florida... 12th April 2017 · 1 min read
Canada Data Response Teranet-National Bank House Prices (Mar.) Despite a further acceleration in Toronto, the national rate of annual house price inflation eased to 13.0% in March, down from 13.4%, reflecting the continued slowdown in Vancouver and falling house... 12th April 2017 · 1 min read
Australia & New Zealand Economic Outlook Australia won’t benefit much from global recovery The latest data suggest that we are right to be more downbeat than most on the outlook for Australia this year but more upbeat than most on the prospects for New Zealand. While both economies will... 12th April 2017 · 1 min read
Japan Chart Pack Price expectations too weak to reach 2% inflation The labour market continues to tighten and firms are reporting the most severe capacity shortages in years. Underlying inflation is therefore set to recover after approaching zero at the start of this... 12th April 2017 · 1 min read
Australia & New Zealand Data Response Australia Consumer Confidence (Apr.) The Westpac measure of consumer confidence nudged down only slightly in April, which is a welcome sight following the recent string of disappointingly weak data on household spending. That said... 12th April 2017 · 1 min read
UK Housing Market Data Response UK House Price Index (Feb.) The official house price index recorded a pick-up in house price growth during February. But with the index recently overstating house price pressures, that result should be interpreted with care. 11th April 2017 · 1 min read
UK Housing Market Data Response Halifax House Prices (Mar.) Annual house price growth on the Halifax index slowed as prices held flat for the second month running. And, with real wage growth squeezed and demand growth paused, we think house price inflation... 7th April 2017 · 1 min read
US Housing Market Update Housing in energy-producing states not yet out of the woods As oil prices have seen a modest pick-up, so has employment growth in many energy-producing states. But, given the lags between changes in the labour market and its impact on the housing market, as... 6th April 2017 · 1 min read
US Housing Market Data Response Mortgage Applications (Mar.) Mortgage applications for home purchase and refinance, as well as mortgage interest rates, were all stable during March. Indeed, all three have barely changed since the end of last year. Interest... 5th April 2017 · 1 min read
US Housing Market Data Response CoreLogic House Prices (Feb.) Very low inventory levels and steady demand combined to drive up house prices in February. A 0.9% m/m gain after seasonal-adjustment was the fastest rate of growth since April 2013. Anyone looking to... 4th April 2017 · 1 min read
Australia & New Zealand Economics Update A subtle shift in the RBA’s rhetoric The Reserve Bank of Australia (RBA) was always going to leave interest rates at 1.5% today, but there are some subtle signs that the Bank is becoming more concerned about the outlook for the labour... 4th April 2017 · 1 min read
Australia & New Zealand Data Response Retail Sales & Building Approvals (Feb.) The outright fall in retail sales values in February adds to growing evidence that real consumption growth probably eased in the first quarter, while the latest news on the housing market has remained... 3rd April 2017 · 1 min read
UK Housing Market Data Response Nationwide House Prices (Mar.) House price inflation cooled in March, a trend that we expect to continue. However, with the economic and interest rate backdrop supportive, the immediate risks of a house price correction seem low. 31st March 2017 · 1 min read
Australia & New Zealand Economics Update Tighter mortgage lending rules raise chances of more rate cuts Today’s announcement that the Australian Prudential Regulation Authority has introduced tighter mortgage lending rules will go some way to addressing the RBA’s concerns about the overheating housing... 31st March 2017 · 2 mins read
US Housing Market Update Will rolling-back regulations help increase housing starts? The executive order requiring a review of the Waters of the United States rule has pushed homebuilder confidence to a 12-year high. However, the rule has been suspended since its introduction in 2015... 30th March 2017 · 1 min read
US Housing Market Outlook Stronger income growth to support housing market A strong labour market, robust consumer confidence and the gradual return of first-time buyers means that the demand for homes will see further gains even as mortgage interest rates rise. But with... 29th March 2017 · 1 min read
