Australia & New Zealand Economics Weekly More trouble brewing down under Things will get worse before they get better for the Antipodean economies. House prices in New Zealand have plummeted by 18% from their January 2022 peak. And with affordability extremely stretched... 21st April 2023 · 5 mins read
UK Housing Market Update Shift towards cheaper homes challenges statisticians The divergence between the Nationwide and Halifax House Price Indices of late has cast some doubt on the direction of house prices. A struggle to adjust the statistics for a shift towards cheaper... 17th April 2023 · 3 mins read
Australia & New Zealand Economics Weekly Migration boom won’t be inflationary Concerns that the ongoing surge in net overseas migration to Australia will fuel demand-pull inflation are overblown, especially with the population still below its pre-virus trend. To the contrary, a... 14th April 2023 · 5 mins read
UK Housing Market Data Response RICS Residential Market Survey (Mar.) The marginal improvement in the headline prices paid and new buyer enquiries balance of the RICS Residential Survey did not alter the overarching message that prices are falling and sales slumping. 13th April 2023 · 3 mins read
Australia & New Zealand Economics Focus Housing rebound doesn’t look sustainable House prices rebounded in March but we aren’t convinced that this marks the beginning of a sustained rebound. Affordability is set to become the most stretched since the early 90s and if the... 11th April 2023 · 14 mins read
London Housing Markets Chart Pack Affordability shapes London performance The Land Registry report that London house price growth slowed to 3.2% y/y in January and more timely data based on mortgage approvals show a 2.2% y/y fall in prices in Q1. The detail suggests that... 6th April 2023 · 7 mins read
UK Housing Market Data Response Halifax House Prices (Mar.) The third consecutive monthly increase in house prices recorded by Halifax suggests that pricing is proving remarkably resilient to higher mortgage rates. But it is at odds with the consistent fall in... 6th April 2023 · 3 mins read
Australia & New Zealand Data Response Australia CoreLogic House Prices (Mar.) With housing affordability the most stretched it’s been since the global financial crisis, we don’t think the uptick in house prices in March will be sustained. We’re sticking to our forecast that... 3rd April 2023 · 3 mins read
UK Housing Market Data Response Nationwide House Prices (Mar.) House prices fell for a seventh consecutive month in February, taking the total fall from their peak in August to 4.6%. With house prices still significantly overvalued in today’s higher mortgage rate... 31st March 2023 · 4 mins read
US Housing Market Update Housing market insulated from banking crisis The latest mortgage market data show that the banking crisis has, so far, had a minimal impact on the housing market. While spreads have increased, overall mortgage rates have dropped and applications... 30th March 2023 · 3 mins read
UK Housing Market Chart Pack Downturn moderates, but outlook remains challenging The partial reversal of the spike in mortgage rates following the “mini” budget has helped to stem the deterioration in housing market demand. Our measure of the average quoted mortgage rate has... 30th March 2023 · 10 mins read
US Housing Market Data Response Case-Shiller/FHFA House Prices (Jan.) House prices continued to nudge lower in January, taking the total fall since their June 2022 peak to 3.0%. But with affordability still stretched, we expect price falls to continue over the coming... 28th March 2023 · 2 mins read
UK Housing Market Data Response RICS Residential Market Survey (Feb.) The slight recovery in the new buyer enquiries balance in February suggested that the reversal of the autumn spike in mortgage rates allowed a limited revival in demand. But with sales volumes falling... 9th March 2023 · 3 mins read
UK Housing Market Data Response Recovery in house prices adds to optimism The substantial recovery in Halifax house prices in February added weight to the view that we will see a stand off between buyers and sellers that causes transactions to slump, but minimal price falls... 7th March 2023 · 3 mins read
US Housing Market Update Poor affordability key to bigger price falls in the West In this Update we examine the implications of affordability for house prices at the market level. Despite sunbelt markets seeing the strongest house price growth over the past couple of years... 6th March 2023 · 3 mins read
UK Housing Market Data Response Nationwide House Prices (Feb.) The further fall in house prices in February will keep optimism based on reports that demand has recovered in check. Indeed, even if buyer volumes have recovered, the amount they can spend on a new... 1st March 2023 · 3 mins read
