US Housing Market Rapid Response US Case-Shiller/FHFA House Prices (Jan. 2024) The fairly large gain in house prices in January points to a rebound in price growth driven by the fall in mortgage rates towards the end of last year. Although its early in the year, today’s data fit... 26th March 2024 · 3 mins read
US Housing Market Update Renting to remain substantially cheaper than buying As mortgage rates fall, we think the difference between the cost of buying and renting will narrow from the current all-time highs. But even by 2026, renting will remain by far the more cost-effective... 25th March 2024 · 3 mins read
US Housing Market Rapid Response US Existing Home Sales (Feb. 2024) Existing home sales rose in February which we think largely reflects the sharp fall in mortgage rates at the end of last year. But borrowing costs have been rising so far in 2024, which in the near... 21st March 2024 · 2 mins read
US Housing Market Rapid Response US Housing Starts (Feb. 2024) The strong rebound in housing starts last month confirmed January’s slump was a weather-related blip. Although we expected starts to bounce back, February’s data were even stronger than we had... 19th March 2024 · 2 mins read
Canada Economics Update Canada Housing Watch (Mar.) House prices stabilised in February and, despite emerging signs of financial stress among households, we believe that the risk of renewed price declines is limited. Nonetheless, with affordability so... 18th March 2024 · 4 mins read
US Housing Market Update Southern house price outperformance to last The national average house price has risen by nearly 50% since the start of the pandemic, but that masks a lot of regional variation. The rise in house prices in southern metros has been even larger... 18th March 2024 · 4 mins read
UK Housing Market Outlook Fall in mortgage rates will allow market to recover A slight rise in mortgage rates since the start of the year is likely to mean house prices stall in the near term. But our forecast that Bank Rate will be cut faster than most expect, to 3.00% by the... 15th March 2024 · 18 mins read
UK Housing Market Update RICS Residential Market Survey (Feb. 24) The February RICS Residential Market Survey revealed a jump in the supply of homes for sale which, paired with a slight rise in mortgage rates, means that house price gains are likely to stall in the... 14th March 2024 · 3 mins read
US Commercial Property Update Nashville, Jacksonville and Austin top for remote workers Our updated remote worker preference scores again highlight Nashville as the most attractive metro for remote workers, while San Jose is the least attractive. The winners continue to be predominantly... 13th March 2024 · 5 mins read
UK Housing Market Update Rental market continues to contract The more granular detail of mortgage lending in Q4 published by the Bank of England this morning added to the evidence that the Buy-to-Let (BTL) sector is contracting. Meanwhile arrears increased, but... 12th March 2024 · 3 mins read
Australia & New Zealand Economics Weekly The worst may be over for the Australian consumer National accounts figures released this week showed that subdued household spending continued to weigh on the Australian economy in Q4. However, with a recovery in real disposable incomes taking shape... 8th March 2024 · 3 mins read
UK Housing Market Rapid Response UK Halifax House Prices (Feb. 24) The smallest month-on-month increase in house prices since September suggested that the boost to house prices from the decline in mortgage rates since last summer is over. With mortgage rates now... 7th March 2024 · 2 mins read
US Housing Market Rapid Response US Mortgage Applications (Feb. 2024) February’s mortgage applications data show rising mortgage rates put an end to what had been the start of a fairly promising recovery, following the low for applications in October 2023. We think this... 6th March 2024 · 3 mins read
UK Commercial Property Rapid Response S&P Global/ CIPS Construction PMI (Feb. 24) The headline CIPS construction PMI rose to 49.7 in February, just under the no change level. The rise was driven by the housing component, with commercial activity edging back a touch. As interest... 6th March 2024 · 2 mins read
US Housing Market Outlook No end in sight to rising house prices Even if mortgage rates fall to 6% as we expect, mortgage rate ‘lock-in’ will continue to curb home moves. As a result, we only anticipate a trickle of new resale supply coming onto the market over the... 5th March 2024 · 15 mins read
UK Housing Market Update The origin of the government’s 300,000 target We have traced the government’s target of building 300,000 new homes a year in England back to the 2004 Barker Review. Rerunning the calculations two decades on suggests 385,000 new homes a year would... 4th March 2024 · 3 mins read
