UK Data Response Nationwide House Prices (Jul.) & Mortgage Lending (Jun.) We doubt that the rise in the number of mortgage approvals marks the start of a recovery in housing market activity. Hence, with the benefits of low interest rates being relentlessly eroded by the... 30th July 2011 · 1 min read
UK Housing Market Data Response Land Registry Repeat Sales Index (Jun.) Despite holding firm in June, the underlying trend in national average house prices remains negative. Moreover, June also brought tentative evidence that even in London, prices are now softening. 29th July 2011 · 1 min read
UK Housing Market Data Response BBA Mortgage Lending (June.) Despite June’s rise, mortgage approvals have remained broadly flat over the past year. With the squeeze on household incomes unlikely to ease anytime soon and with few signs of looser lending... 26th July 2011 · 1 min read
UK Housing Market Data Response RICS Housing Survey & CLG House Prices (Jun/May) The latest RICS housing market survey provides further evidence that the outlook for activity and prices in the housing market is soft. Even if it is sustained, the slowing in the rate at which new... 13th July 2011 · 1 min read
UK Data Response Halifax House Prices (June) The bounce in house prices in June is unlikely to signal that the downwards pressure on house prices has abated. With the squeeze on real pay likely to intensify until well into next year, house... 7th July 2011 · 1 min read
UK Commercial Property Data Response Bank of England Credit Conditions Survey (Q2) Today’s Credit Conditions Survey suggested that the near-term outlook for commercial property lending may be slightly more positive than in the residential sector. But lending prospects in both... 1st July 2011 · 1 min read
UK Data Response Nationwide House Prices (June) The Nationwide house price index was unchanged in June. But the regional indices show that the resilience of the national index over the past year or so is largely down to London where, in contrast to... 1st July 2011 · 1 min read
UK Data Response Mortgage Lending (May) The latest mortgage lending figures confirm that housing market activity remains very weak. That’s unlikely to change while the squeeze on real pay continues. 30th June 2011 · 1 min read
UK Housing Market Data Response Land Registry Repeat Sales Index (May) May’s fall in the Land Registry’s index of house prices offset all of the previous month’s rise and confirmed the downward trend in prices on this measure. House price falls are likely to be extended... 29th June 2011 · 1 min read
UK Housing Market Data Response BBA Mortgage Lending (May.) May’s rise in the BBA measure of mortgage approvals failed to make up even half of last month’s steep fall. Thus the data seem to confirm that more than just temporary factors have been weighing on... 24th June 2011 · 1 min read
UK Housing Market Data Response FSA Mortgage Lending Statistics (Q1) Those looking for a loosening in mortgage lending criteria will be disappointed by the latest FSA data. What’s more, the high share of mortgages at variable rates of interest may be storing up... 22nd June 2011 · 1 min read
UK Housing Market Data Response RICS Housing Survey & CLG House Prices (May/Apr) The drop in completed sales in May could be a hangover from the disruption caused by this year’s late Easter and Royal Wedding celebrations. But it could also simply be further evidence of the fragile... 15th June 2011 · 1 min read
UK Housing Market Data Response RICS Lettings Survey (Apr.) It was hardly surprising that surveyors reported another increase in tenant demand in the three months to April. But the rise in the number of new lettings instructions adds to our belief that rental... 10th June 2011 · 1 min read
UK Data Response Halifax House Prices (May) The latest small rise in the Halifax house price index does little to change the bigger picture that prices on this measure are trending lower. Given the struggling economic recovery and the fact that... 7th June 2011 · 1 min read
UK Housing Market Data Response Mortgage Lending (Apr.) The latest fall in the Bank of England mortgage approvals numbers was surely driven at least in part by April’s one-off events. But underlying demand is clearly still weak. 1st June 2011 · 1 min read
UK Housing Market Data Response Land Registry Repeat Sales Index (Apr.) The small gain in house prices in January is unlikely to signal an end to the weakening trend in house prices. Indeed, if our economic forecasts are correct, the downward pressures on house prices are... 31st May 2011 · 1 min read
