Canada Data Response Teranet House Prices (Jul.) The Teranet measure of house price inflation accelerated to a 32-year high in July and is on track to pick up further in August. That should mark the peak but, with the sales-to-new listing ratio... 19th August 2021 · 2 mins read
US Housing End of eviction ban won’t stop recovery in rents The eviction ban has been extended to early October, but we doubt it will be renewed again. Given the strength of the labour market, significant government support and robust rental demand, the... 19th August 2021 · 3 mins read
US Housing Market Data Response Housing Starts (Jul.) Single-family starts edged back in July, although they but remain elevated compared to pre-COVID levels. Shortages in lots, labour and materials are weighing on builder confidence and housing starts... 18th August 2021 · 2 mins read
UK Commercial Property Update Are PDRs the answer to mis-matches in supply? New plans have extended Permitted Development Rights (PDRs) on commercial property, allowing swifter conversion to residential use. These have been cautiously welcomed, but, in our view, they do not... 18th August 2021 · 3 mins read
UK Housing Market Update What if we are wrong about interest rates? While the Monetary Policy Committee (MPC) became more hawkish at its August meeting, an increase in interest rates on the scale it expects would not undermine house prices. But more stubborn inflation... 16th August 2021 · 3 mins read
US Housing Market Focus The last house price boom? The housing market is highly cyclical, and the current price boom marks the fifth episode since 1970 where real house price growth has exceeded 5% y/y. But there are good reasons to think this will... 12th August 2021 · 19 mins read
UK Housing Market Data Response RICS Residential Market Survey (Jul.) Despite new buyer enquiries dropping back in July, house prices continued to rise as buyers competed for limited stock. 12th August 2021 · 2 mins read
US Housing Home sales and house prices to moderate The share of households seeing now as a good time to buy a home has fallen to 39-years lows, as booming house prices, tight credit conditions and record low inventory have weighed on sentiment. But... 11th August 2021 · 9 mins read
Canada Economics Exports heating up as housing cools There was more evidence that the housing market is cooling this week, with home sales slipping to 12-month lows in seasonally adjusted terms in both Toronto and Vancouver. The good news, however, is... 6th August 2021 · 4 mins read
UK Housing Market Data Response Halifax House Prices (Jul.) Halifax house prices returned to growth on a monthly last month, partly reversing a weak June figure. But the underlying trend, as the stamp duty discount is phased out, is for a modest slowdown... 6th August 2021 · 2 mins read
UK Commercial Property Data Response IHS Markit/CIPS Construction PMI (Jul.) July’s construction PMI figure was slightly disappointing compared with the previous month’s highs. But it continued to point to robust activity and we think any dip is most likely a reflection of... 5th August 2021 · 2 mins read
US Housing Mortgage Applications (Jul.) The recent decline in mortgage rates buoyed refinancing activity in July, but didn’t prevent another month of declining home purchase activity. While market conditions are tight, there are still... 4th August 2021 · 2 mins read
US Housing Market Update Increase in build-for-rent won’t derail SF rent growth Surging demand for single-family homes has revived institutional investor interest in the single-family rental (SFR) market. With few homes available to buy, interest in build-for-rent (BFR)... 3rd August 2021 · 3 mins read
UK Housing Market Outlook House price growth to cool but not collapse There are already signs that the end of the stamp duty holiday will take some heat out of the housing market, with house price inflation set to cool from 10% to 7% by the end of the year. But as we... 2nd August 2021 · 22 mins read
Australia & New Zealand Data Response Australia CoreLogic House Prices (Jul.) House prices are continuing to surge and forward indicators suggest the upswing has a little further to run. Even so we think house price growth will slow in 2022. 2nd August 2021 · 2 mins read
UK Housing Market Data Response Mortgage Lending (Jun.) A surge in borrowing ahead of the tapering of the stamp duty holiday in July saw new mortgage lending set a fresh record high. Meanwhile, robust mortgage approvals pointed to activity remaining strong... 29th July 2021 · 2 mins read
