China Economics Weekly Officials ease price controls, mull direct homebuying Allowing local governments to use special bond issuance to directly purchase unsold homes could address the lack of SOE participation in the current property destocking scheme. But this approach would... 23rd August 2024 · 4 mins read
US Housing Market Rapid Response Existing Home Sales (Jul. 2024) The small rebound in existing home sales in July seems underwhelming after last month’s large drop in mortgage rates, but the data are based on completed transactions and so it will take at least... 22nd August 2024 · 2 mins read
UK Commercial Property Outlook Look to beds, sheds and retail for best returns Commercial property yields and capital values have stabilised in recent months, which has encouraged investors to dip their toes back into the sector. But the recovery is set to be a weak one... 22nd August 2024 · 26 mins read
Canada Economics Weekly Warning signs for business investment The data this week cast doubt on the Bank of Canada’s view that the worst is already behind us for the economy, with manufacturing sales slumping to a two-and-a-half year low in June and non... 16th August 2024 · 5 mins read
Canada Economics Update Canada Housing Watch (Aug. 2024) Interest rate cuts have so far failed to stimulate the housing market, although the sharper drop in borrowing costs this month will lend more support. Regional divergences are growing, with Toronto... 16th August 2024 · 4 mins read
US Housing Market Rapid Response Housing Starts (Jul. 2024) The slump in both housing starts and building permits in July, to the lowest levels since the epoch of the pandemic, only partly reflects the temporary impact of Hurricane Beryl. Accordingly, even... 16th August 2024 · 2 mins read
China Economics Focus How to fix China’s property destocking scheme The property support measures included in yesterday’s stimulus announcement won’t be enough to drive a turnaround in the housing market. In a detailed analysis of the government’s property destocking... 16th August 2024 · 18 mins read
UK Housing Market Chart Pack UK Housing Market Chart Pack (Aug. 2024) Our UK Housing Chart Pack has been updated with the latest data and our analysis of recent developments. The recent drop in mortgage rates has caused house prices to rise a bit faster than expected... 15th August 2024 · 1 min read
UK Housing Market Update Revising up our 2024 house price forecast Given the revival in house prices and recent falls in mortgage rates, we are raising our Q4 2024 house price growth forecast from 1.0% y/y to 2.0%. We now think that the number of housing transactions... 15th August 2024 · 4 mins read
Australia & New Zealand Chart Pack Australia & New Zealand Chart Pack (August 2024) The Antipodean central banks will tread different paths when it comes to policy setting in the near term. With the New Zealand economy in a tailspin and inflation well on its way to target, the RBNZ... 15th August 2024 · 1 min read
Latin America Economics Focus Elevated housing inflation to keep Banxico hawkish Housing inflation has become an increasingly important driver of core services inflation in Mexico – a key concern of the central bank, Banxico. And we think that robust household income growth and a... 13th August 2024 · 13 mins read
US Housing Market Update Drop in mortgage rates won’t set the market alight We are sceptical that the recent decline in mortgage rates will revive the housing market. Rates are still high compared to recent years, discouraging homeowners from moving, while most potential new... 12th August 2024 · 4 mins read
UK Economics Weekly Strong rebound in housing activity an upside risk to GDP Our forecast implies that the recovery in the housing market will both directly and indirectly add about 0.8% to the level of GDP by the end of 2026. But the risk is that the housing market rebound is... 9th August 2024 · 11 mins read
UK Housing Market Update RICS Residential Market Survey (Jul. 2024) Increasing demand points to stronger price growth Tentative signs from July’s RICS survey add to the growing evidence that demand and prices are starting to pick up. And as lenders start to cut... 8th August 2024 · 3 mins read
Canada Chart Pack Canada Chart Pack (Aug. 2024) With the economy now in a position of excess supply, we expect core inflation to continue to fall back to 2% by the middle of next year. With the Bank of Canada putting more emphasis on the downside... 7th August 2024 · 1 min read
US Housing Market Rapid Response Mortgage Applications (Jul. 2024) July was a disappointing month for mortgage activity overall, with earlier high borrowing costs causing home purchase applications to slide by 5.4% m/m. All the attention, however, will be on the last... 7th August 2024 · 2 mins read
