Australia & New Zealand Data Response Australia CoreLogic House Prices (Feb.) Although the decline in house prices slowed markedly in February, we’re not convinced the worst is over. As such, we expect house prices to fall by another 6% before the year is up. 1st March 2023 · 2 mins read
US Housing Market Data Response Case-Shiller/FHFA House Prices (Dec.) Despite a sixth consecutive month of falling house prices in December, affordability was still stretched even before the renewed rise in mortgage rates. As a result, it is likely that prices will... 28th February 2023 · 3 mins read
UK Housing Market Update Buyers respond to higher rates by borrowing less Higher interest rates have begun to reduce the size of mortgage that buyers take out. As two-thirds of buyers rely on a mortgage, that will decrease most buyers’ budgets and put further downward... 23rd February 2023 · 3 mins read
UK Housing Market Chart Pack Few signs of market bottoming out The survey data suggest that the modest decline in mortgage rates since October falls a long way short of what would be required for house prices to bottom out. The fall in market interest rates since... 16th February 2023 · 10 mins read
US Housing Market Outlook Slow recovery in sales and further falls in prices Housing market activity is likely to recover only gradually from its current lows, which means we think 2023 will be the weakest year for sales since 2012. Affordability will remain stretched by past... 10th February 2023 · 18 mins read
UK Housing Market Data Response Halifax House Prices (Jan.) We suspect that the pause in house price falls in January reported by Halifax will prove temporary. Despite the slight decline in mortgage rates, affordability still looks far too stretched for house... 7th February 2023 · 3 mins read
UK Housing Market Update Cash buyers unlikely to prop up housing market Most, but not all measures of house prices show that they are falling. That has led some to contend that cash buyers may be supporting prices. But we think it is just a matter of time before the ONS... 6th February 2023 · 2 mins read
Australia & New Zealand Economics Weekly Housing slump still searching for the bottom Australia’s house prices are still falling rapidly and there is no bottom in sight. The fastest house price decline in Australia’s history will soon be the largest as the RBA continues to ratchet... 3rd February 2023 · 4 mins read
UK Housing Market Data Response Nationwide House Prices (Jan.) Given very stretched mortgage affordability, it was unsurprising to see house prices continue to decline at the beginning of 2023. The fall in house prices since their peak last August grew to 3.2% as... 1st February 2023 · 2 mins read
US Housing Market Data Response Case-Shiller/FHFA House Prices (Nov.) A fifth consecutive monthly decline in house prices in November left them down 2.5% from their peak in June on the Case-Shiller index. We think that prices will fall by a further 6% this year before... 31st January 2023 · 2 mins read
UK Housing Market Outlook Activity to slump as prices adjust to higher rates 2023 will be the most difficult year for the housing market since 2008. Mortgage rates remain very high by the standards of recent years and can’t drop materially until the Bank of England shifts from... 26th January 2023 · 25 mins read
Event Canada Drop-In: Is this the end of the Bank of Canada’s tightening cycle? 1674666000 Join Paul Ashworth, our Chief North America Economist, Stephen Brown, who leads our Canada coverage, and Jonathan Peterson, Senior
UK Housing Market Data Response RICS Residential Market Survey (Dec.) There was little to cheer in the December RICS survey, with prices continuing to drop and sales volumes falling further from November’s already-subdued levels. 19th January 2023 · 3 mins read
Canada Economics Update Canada Housing Watch (Jan.) The large fall in new listings in December failed to prevent another sizeable drop in house prices, but the improvement in the sales-to-new listing ratio offers some hope that the downward pressure on... 17th January 2023 · 4 mins read
Global Economics Update Housing downturns starting to take toll on economies Housing downturns are well underway in many countries and house prices and activity generally have further to fall. Construction activity is already suffering as a result. While it is hard to detect... 16th January 2023 · 4 mins read
US Housing Market Chart Pack Signs of a trough in housing demand There are growing signs that housing market activity may be close to a trough. The decline in mortgage rates over the past couple of months has led to a small improvement in affordability and a rise... 12th January 2023 · 9 mins read
