US Housing Market Update Another challenging year for first-time buyers The recent fall in the homeownership rate revealed by the Housing Vacancy Survey (HVS) is unlikely to reverse given still-high mortgage costs. The survey also provided more evidence in support of our... 8th February 2024 · 3 mins read
UK Housing Market Update RICS Residential Market Survey (Jan. 24) The strongest set of survey results since the tail end of the 2020-22 house price boom provided further evidence that lower mortgage rates have led to a recovery in demand. We suspect that respondents... 8th February 2024 · 3 mins read
Australia & New Zealand Economics Update Australia CoreLogic House Prices (Jan.) Although house price gains remained firm in January, we still expect them to soften in the months ahead. While rate cuts are on the horizon, they will do little to improve homebuying capacity. 1st February 2024 · 2 mins read
London Housing Markets Chart Pack London Housing Chart Pack (Q1 2024) London house prices were more resilient in 2023 than we had expected, falling by 2.4% y/y in Q4 close to the national average of -2.3% y/y. London is more reliant on mortgaged buyers than other... 25th January 2024 · 1 min read
US Housing Market Rapid Response New Home Sales (Dec. 2023) New home sales rebounded in December, reversing nearly all of their decline in the previous month when mortgage borrowing costs were much closer to their 8% peak. 25th January 2024 · 2 mins read
UK Housing Market Chart Pack UK Housing Market Chart Pack (Jan 2024) If we are right to think that the Bank of England will begin lowering interest rates in June, the recent fall in mortgage rates should be sustained. The resulting drop in the cost of borrowing will... 22nd January 2024 · 1 min read
US Housing Market Rapid Response Existing Home Sales (Dec. 2023) A drop in existing home sales in December confirmed that they fell by 20% y/y in 2023 as a whole to their lowest level since 1995. (See Chart 1.) Lack of supply was the main reason existing home sales... 19th January 2024 · 2 mins read
UK Housing Market Update Credit Conditions Survey (Q4 2023) The latest Credit Conditions Survey showed a rise in the availability of mortgage credit in Q4 as financial market interest rates fell, but demand for mortgages slipped as mortgage rates took time to... 18th January 2024 · 3 mins read
Australia & New Zealand Chart Pack Australia & New Zealand Chart Pack (Jan. 2024) Our Australia and New Zealand Chart Pack has been updated with the latest data and our analysis of recent developments. Central banks in both Australia and New Zealand are likely to remain in “wait... 18th January 2024 · 1 min read
UK Housing Market Rapid Response RICS Residential Market Survey (Dec. 23) Market was picking up even before latest slide in mortgage rates The December RICS Housing Market survey showed sales volumes rising and buyer demand recovering even before the further sizeable drop... 18th January 2024 · 3 mins read
US Housing Market Chart Pack US Housing Market Chart Pack We anticipate that mortgage rates will continue to fall in 2024, but more gradually than they have recently from 6.8% now to 6.25% by the end of the year. That won’t be enough to bring a great deal of... 17th January 2024 · 1 min read
Australia & New Zealand Economics Focus Stubborn rental inflation won’t prevent RBA rate cuts In recent months, there have been growing concerns that the rapid rise in rental inflation will force the Reserve Bank of Australia to keep rates higher for longer. To be sure, leading indicators... 17th January 2024 · 15 mins read
Canada Economics Update Canada Housing Watch (Jan.) The decline in mortgage rates appears to be supporting demand, with home sales rebounding last month. While prices continued to fall in December, the sales-to-new listing ratio is now pointing to... 16th January 2024 · 3 mins read
Event US Housing Drop-In: What do falling mortgage rates mean for the market in 2024? 1706022000 US house prices saw strong gains in 2023, defying widespread expectations for them to fall as surging mortgage rates crimped supply.
UK Housing Market Update Scotland & N.I. to outperform, while the South recovers There was a wide disparity in house price growth across regions in 2023 and little reason to think that this year will be any different. Following the recent decline in mortgage rates, we suspect the... 15th January 2024 · 3 mins read
US Housing Market Update Key US housing market calls for 2024 We doubt that the modest fall in mortgage rates we anticipate this year will bring a great deal more stock onto the market. Because of that, the supply of existing homes will remain very tight, so we... 12th January 2024 · 4 mins read
