US Housing Market Rapid Response US Existing Home Sales (Nov. 2025) Existing home sales rose to a nine-month high of 4.13m annualised in November and should climb further in the coming months, as deals agreed when borrowing costs fell in the third quarter continue to... 19th December 2025 · 2 mins read
Canada Economic Outlook Soft growth to keep Bank on pause in 2026 The labour market has bounced back from the US tariff shock, but uncertainty over CUSMA and lower immigration will hold back GDP growth, which we expect to average 1.2% in 2026 and 1.5% in 2027. Lower... 18th December 2025 · 14 mins read
UK Housing Market Chart Pack UK Housing Market Chart Pack (Dec. 2025) While housing activity and prices have been resilient to uncertainty ahead of the Budget and the subdued economic backdrop, there are few signs of a post-Budget rebound in buyer sentiment. If... 17th December 2025 · 1 min read
Canada Economics Update Canada Housing Watch (Dec. 2025) The housing market weakened in November, with sales activity and house prices both recording declines. Even so, the further improvement in the sales-to-new-listing ratio raises our confidence that... 15th December 2025 · 4 mins read
UK Commercial Property Update What does the Budget mean for UK commercial property? With our 10-year gilt yield forecast unchanged and the impact of changes to business rates broadly revenue neutral over the next five year years, we are not changing are commercial property forecasts... 11th December 2025 · 4 mins read
Canada Chart Pack Canada Chart Pack (Dec 2025) We expect GDP growth to average around 1% annualised over the next four quarters as household spending, investment and exports all remain subdued, while the latest budget won’t provide much short-term... 11th December 2025 · 1 min read
UK Housing Market Update UK RICS Residential Market Survey (Nov. 2025) Despite three quarters of the survey responses being gathered after the Budget, November’s RICS survey suggests buyer sentiment fell further in November even though actual housing activity and prices... 11th December 2025 · 3 mins read
Australia & New Zealand Economic Outlook RBA set to reverse course on rate cuts in 2026 The RBA is poised to join the rather exclusive club of advanced economy central banks that tightens policy in 2026. With growth accelerating when there’s little to no spare capacity and the labour... 10th December 2025 · 20 mins read
Canada Economics Weekly Will the Bank’s next move be a hike? The risk that the Bank of Canada shifts course and begins hiking is one we had not focused on as closely until today’s stellar November Labour Force Survey. While money markets are now fully pricing... 5th December 2025 · 5 mins read
UK Housing Market Rapid Response UK Halifax House Prices (Nov. 2025) The stagnation in the Halifax measure of house prices in November sends a weaker signal than the Nationwide release earlier this week. But with prices having only fallen once in the last six months... 5th December 2025 · 3 mins read
UK Commercial Property Rapid Response S&P Global/CIPS UK Construction PMI (Nov. 25) The headline CIPS construction PMI fell for the second consecutive month to a new post-pandemic low of 39.4 in November. The drop was broad-based across the sectors, with the housing balance seeing a... 4th December 2025 · 1 min read
US Housing Market Rapid Response US Mortgage Applications (Nov 2025) The second consecutive decline in mortgage activity in November, as the previous decline in mortgage rates came to an end, supports our view that home sales are unlikely to rise by as much as most... 3rd December 2025 · 2 mins read
UK Housing Market Rapid Response UK Nationwide House Prices (Nov. 2025) The rise in the Nationwide measure of house prices in November provides further evidence that actual house prices have been more resilient to Budget uncertainty than some RICS sentiment indicators... 2nd December 2025 · 3 mins read
US Housing Market Chart Pack US Housing Market Chart Pack (Nov. 25) The Fed looks set to cut interest rates again in December, but we think investors are too optimistic about further easing next year. We expect only one 25bp cut in 2026, compared with roughly 75bp of... 1st December 2025 · 1 min read
Europe Economics Focus ECB interest rates cuts doing little to boost growth Aside from the monetary loosening undertaken by the ECB at the beginning of the global financial crisis, its interest rate cuts from mid-2024 to mid-2025 were the deepest over a 12-month period in its... 1st December 2025 · 15 mins read
