UK Housing Market Data Response Nationwide House Prices (Mar.) House prices fell for a seventh consecutive month in February, taking the total fall from their peak in August to 4.6%. With house prices still significantly overvalued in today’s higher mortgage rate... 31st March 2023 · 4 mins read
UK Housing Market Data Response Mortgage Lending (Feb.) Reflecting the partial unwinding of the spike in mortgage rates following the “mini” budget, mortgage approvals rose to their highest level for three months in February. However, with mortgage rates... 29th March 2023 · 3 mins read
UK Housing Market Data Response Mortgage Lenders and Administrators Return (Q4 22) The detailed mortgage lending data for Q4 showed a slump in demand, as rising mortgage rates began to bite. The latest MLAR data confirmed the sharp turnaround in market conditions and suggest that... 14th March 2023 · 2 mins read
UK Housing Market Data Response RICS Residential Market Survey (Feb.) The slight recovery in the new buyer enquiries balance in February suggested that the reversal of the autumn spike in mortgage rates allowed a limited revival in demand. But with sales volumes falling... 9th March 2023 · 3 mins read
UK Housing Market Data Response Recovery in house prices adds to optimism The substantial recovery in Halifax house prices in February added weight to the view that we will see a stand off between buyers and sellers that causes transactions to slump, but minimal price falls... 7th March 2023 · 3 mins read
UK Commercial Property Data Response S&P Global/CIPS Construction PMI (Feb.) The headline CIPS construction index rebounded back into expansionary territory in February and the forward-looking indicators also showed further improvement. Commercial developers may be taking... 6th March 2023 · 2 mins read
UK Housing Market Data Response Mortgage Lending (Jan.) The spike in mortgage rates in October and November last year ensured that mortgage approvals remained at a similar level to the depths of the 2007-09 financial crisis in January. That could mark the... 1st March 2023 · 3 mins read
UK Housing Market Data Response Nationwide House Prices (Feb.) The further fall in house prices in February will keep optimism based on reports that demand has recovered in check. Indeed, even if buyer volumes have recovered, the amount they can spend on a new... 1st March 2023 · 3 mins read
UK Housing Market Data Response RICS Residential Market Survey (Jan.) There was some hope that, in keeping with the pause in house price falls recorded by Halifax in January, the RICS survey would show a recovery in demand on the back of the modest decline in mortgage... 9th February 2023 · 3 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 Commercial Property Data Response S&P Global/CIPS Construction PMI (Jan.) The headline CIPS construction index showed a contraction in activity in January, with the housing index seeing a substantial decline. But the forward-looking indicators improved, with future business... 6th February 2023 · 3 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
UK Housing Market Data Response Mortgage Lending (Dec.) A further slump in mortgage approvals in December, to the lowest level since the height of the pandemic, confirmed that the extremely high cost of mortgage borrowing has caused more buyers to withdraw... 31st January 2023 · 3 mins read
UK Housing Market Data Response Credit Conditions Survey (Q4 2022) The Q4 2022 Credit Conditions Survey shows that while lenders tightened lending criteria in the aftermath of the “mini” budget, the main constraint on lending volumes was a collapse in demand due to... 19th January 2023 · 3 mins read
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
UK Commercial Property Data Response S&P Global/CIPS Construction PMI (Dec.) The headline CIPS construction index fell below 50 in December, indicating a contraction in activity, as the recession hit demand and developers’ concerns about capital values increased. With both... 6th January 2023 · 2 mins read
