UK Commercial Property Rapid Response

S&P Global/CIPS Construction PMI (Jun 24)

The headline CIPS construction PMI edged back in June from its two-year high last month, but at 52.2 remains in expansionary territory. Both the commercial and housing balances retreated, with the...

4th July 2024 · 1 min read

UK Economics Rapid Response

UK Money & Lending (May 2024)

May’s money and lending data provided a bit further evidence that the drag from higher activity is starting to fade. Together with our view that the Bank of England will cut interest rates from 5.25%...

1st July 2024 · 3 mins read

UK Housing Market Rapid Response

Nationwide House Prices (Jun. 2024)

Although house prices rose slightly in June, an earlier dip means they were flat on the quarter in Q2. With signs mortgage rates are causing demand to falter and that supply is improving, we think...

1st July 2024 · 3 mins read

UK Housing Market Rapid Response

UK Halifax House Prices (May 2024)

The slight decline in the Halifax house price index in May confirmed that the increase in mortgage rates since the start of the year has caused house prices to stall. Mortgage rates have continued to...

7th June 2024 · 3 mins read

UK Commercial Property Rapid Response

S&P Global/CIPS Construction PMI (May 24)

The headline CIPS construction PMI rose to a two-year high of 54.7 in May. Both the commercial and housing balances improved, with the latter rising above 50 for the first time since October 2022...

6th June 2024 · 2 mins read

UK Economics Rapid Response

UK Money & Lending (Apr. 2024)

While April’s money and lending figures suggest the recent rebound in the housing market is cooling and households reined in their spending in April, there was further evidence that the drag on...

31st May 2024 · 3 mins read

UK Housing Market Rapid Response

UK Nationwide House Prices (May 2024)

Despite a small increase in the Nationwide house price index in May, the big picture is that the slight rise in mortgage rates since the start of the year has caused house prices to stagnate.

31st May 2024 · 3 mins read

UK Commercial Property Rapid Response

S&P Global/ CIPS UK Construction PMI (Apr. 24)

The headline CIPS construction PMI rose for the fifth consecutive month to 53.0 in April, a 14-month high. The rise was driven by improvements to the commercial and civil engineering components...

7th May 2024 · 2 mins read

UK Housing Market Rapid Response

Nationwide House Price Index (Apr. 2024)

The second consecutive decline in the Nationwide house price index in April confirms that the rise in mortgage rates since the start of the year will prevent further near-term price gains. But as we...

1st May 2024 · 2 mins read

UK Economics Rapid Response

UK Money & Credit (Mar. 2024)

March’s money and credit figures provide further evidence that the drag from high interest rates is starting to fade, which supports our view that activity rebounded in Q1. And our forecast for...

30th April 2024 · 3 mins read

UK Commercial Property Rapid Response

S&P Global/ CIPS UK Construction PMI (Mar. 24)

The headline CIPS construction PMI rose to 50.2 in February, the first time it has risen above the no change level since August last year. The rise was driven small improvements across the housing...

5th April 2024 · 1 min read

UK Housing Market Rapid Response

UK Halifax House Prices (Mar. 24)

The first decline in the Halifax House price Index in six months confirmed that the slight rise in mortgage rates since the start of the year has caused house prices to stall.

5th April 2024 · 2 mins read

UK Economics Rapid Response

UK Money & Credit (Feb. 2024)

February’s money and credit figures show the dip in mortgage rates at the start of the year boosted mortgage approvals to a 17-month high. This is unlikely to continue in the near term. But if we’re...

2nd April 2024 · 3 mins read

UK Housing Market Rapid Response

UK Nationwide House Prices (March 2024)

The 0.2% m/m fall in the Nationwide house price index in March (consensus: +0.3%, CE: +0.2%) suggested that the rise in mortgage rates since the turn of the year has caused house prices to stall. That...

2nd April 2024 · 1 min 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