UK Housing Market Data Response Halifax House Prices (Nov.) The Halifax house price index suggests that not only did the end of the stamp duty holiday fail to dent the market, but that house price growth has since accelerated to a post-financial crisis high. 7th December 2021 · 2 mins read
Canada Economics Update A last hurrah for housing We are not convinced by the Bank of Canada’s view that the renewed strength of house prices is due to “extrapolative expectations”. With mortgage rates jumping recently, the large price gain in... 2nd December 2021 · 4 mins read
US Housing Market Data Response Mortgage Applications (Nov.) A rise in mortgage rates to an eight-month high of 3.31% by the end of November failed to dampen home purchase demand, which surged to a nine-month high. The drop in 10-year Treasury yields from the... 1st December 2021 · 2 mins read
UK Housing Market Data Response Nationwide House Prices (Nov.) House prices recorded another above-consensus gain in November as strong buyer demand bid prices up further. There is little sign of that dynamic changing anytime soon, so we expect the consensus... 1st December 2021 · 2 mins read
Australia & New Zealand Data Response Australia CoreLogic House Prices (Nov.) Housing demand remains very strong, but rising interest rates and lending restrictions should result in a further slowdown in house price growth next year. 1st December 2021 · 2 mins read
US Housing Market Data Response Case-Shiller/FHFA House Prices (Sep.) Annual house price growth fell for the first time in 16-months in September, and stretched affordability means it should continue to slow. It is too soon to say what impact the arrival of the Omicron... 30th November 2021 · 2 mins read
US Housing Market Update Why are pending and existing home sales diverging? An increase in the quality of mortgage borrowers, and record low inventory, are boosting the mortgage closing rate and leading to an increase in the share of pending home sales converted into existing... 29th November 2021 · 3 mins read
UK Housing Market Data Response Mortgage Lending (Oct.) Mortgage approvals remained robust in October after the end of the stamp duty holiday, only easing back into line with their pre-pandemic average. With demand strong, we suspect that mortgage... 29th November 2021 · 2 mins read
UK Housing Market Update 300,000 supply target remains out of reach The most comprehensive statistics on housing supply confirmed that the pause in construction in Q2 2020 caused completions of new homes to drop back. Housebuilding activity has since recovered but... 29th November 2021 · 5 mins read
US Housing Market Data Response New Home Sales (Oct.) The marginal improvement in new home sales in October was flattered by a downward revision to September’s data, and the bigger picture is that sales have been fairly steady since May. Looking ahead... 24th November 2021 · 2 mins read
UK Housing Market Update Where is all the stock? Estate agents undoubtedly have a very limited number of homes on the books. But the idea that the lack of supply is due to few homes being put up for sale is a misconception. High numbers of... 24th November 2021 · 3 mins read
Australia & New Zealand Economics Update Australia - Rate hikes will result in housing downturn High household debt will magnify the impact of interest rate hikes on the housing market and we now expect prices across the eight capital cities to fall by 5% from H2 2023. The upshot is that the RBA... 24th November 2021 · 3 mins read
US Housing Market Data Response Existing Home Sales (Oct.) Existing home sales eked out a small gain in October, slowing considerably from last month’s increase. With inventory at a record low, buyer sentiment in a pit and mortgage rates on the rise, we... 22nd November 2021 · 2 mins read
Canada Economics Weekly House prices surge, floods devastate BC The renewed surge in house prices could persuade the Bank of Canada to raise interest rates sooner than we forecast, although the hit to activity from the devasting floods in BC this week reduces the... 19th November 2021 · 4 mins read
UK Housing Market Chart Pack Little sign of momentum in prices abating The end of the stamp duty holiday has had remarkably little impact on buyer demand. If anything, the imbalance between strong home purchase demand and limited supply is intensifying. Indeed, Rightmove... 19th November 2021 · 8 mins read
China Economics Update Home sales on the cusp of a rebound New home sales have dropped by a fifth since March, a similar-sized slump to those seen during the previous two housing downturns. With policy now turning more supportive, high-frequency data suggest... 19th November 2021 · 6 mins read
