US Housing Market Data Response Existing Home Sales (May) Existing home sales saw another substantial decline in May but with the country reopening, and housing demand surging on the back of record low mortgage interest rates, we suspect they have now... 22nd June 2020 · 2 mins read
UK Housing Market Update Rental market isn’t out of the woods The rental market data have been surprisingly resilient. But informal rent cuts may be happening under the radar, while government support has delayed the crunch point for households. As a result, we... 18th June 2020 · 3 mins read
House prices to prove less resilient than construction Housing starts have remained relatively high in recent months. But given the hit to employment, falling rents and signs many are struggling with mortgage payments, house prices are unlikely to be as... 12th June 2020 · 4 mins read
US Housing Market Update Will the rental market bounce back? The factors that drove the resurgence in home purchase mortgage demand, including record low mortgage rates, the need for more space and the anticipation of finding a bargain, will not give a similar... 11th June 2020 · 3 mins read
UK Housing Market Data Response RICS Residential Market Survey (May.) May’s RICS survey points to a modest fall in house prices. But the rest of the survey is harder to interpret. It suggests that activity fell from April’s already very low level, despite lockdown... 11th June 2020 · 2 mins read
US Housing Market Chart Pack Home purchase mortgage applications surge By the end of May, mortgage applications for home purchase had fully reversed their earlier drop. New home sales have also performed better than expected, with a surprise month-on-month rise in April... 9th June 2020 · 9 mins read
UK Housing Market Data Response Mortgage Lenders and Administrators Statistics (Q1) High LTV lending was already edging down before the coronavirus hit, as competitive pressures among banks plateaued. But lenders have since withdrawn such loans en masse, owing to fears of a house... 9th June 2020 · 2 mins read
UK Housing Market Data Response Halifax House Prices (May.) According to the Halifax index, house prices fell for a third consecutive month in May as lockdown was eased. But the fall of 0.2% m/m was very gradual. That supports our view that house prices will... 5th June 2020 · 2 mins read
Australia & New Zealand Economics Update Australia - Homebuyer grants won’t prevent falling house prices The government today unveiled a grant for buyers of new homes. While grants for first-time home buyers boosted home sales during the global financial crisis, the new scheme won’t offset the impact of... 4th June 2020 · 3 mins read
US Housing Market Data Response Mortgage Applications (May) Mortgage applications for home purchase have risen in each of the past seven weeks, and in May were up 2.7% y/y. With the unemployment rate at a record high, that strength in demand is surprising... 3rd June 2020 · 2 mins read
UK Housing Market Data Response Mortgage Lending (Apr.) House purchase mortgage approvals fell by 71.8% m/m in April – broadly in line with our expectations. Looking ahead, with the housing market having reopened in May, that probably marks a low point... 2nd June 2020 · 2 mins read
UK Housing Market Data Response Nationwide House Prices (May.) House prices slumped in May due to the economic fallout from the coronavirus. Given the magnitude of the economic shock, further price cuts are extremely likely. That said, we think the extensive... 2nd June 2020 · 2 mins read
Australia & New Zealand Data Response Australia - CoreLogic House Prices (May) We think the small decline in house prices in May marks the start of a larger downturn. We expect house prices to fall by 5-10% in the coming months. 1st June 2020 · 2 mins read
Australia & New Zealand Chart Pack Normal still a long way off As the lockdowns have largely come to an end in both countries, output is starting to recover. In New Zealand, most activity is now allowed to resume, though gatherings are limited to 100 people. In... 29th May 2020 · 10 mins read
US Housing Market Data Response Case-Shiller/FHFA & New Home Sales (Mar./Apr.) New home sales edged higher in April, after recording their largest month-on-month slump in over six years during March. The latest rise was in line with recent improvements in mortgage applications... 26th May 2020 · 2 mins read
China Economics Weekly US-China decoupling, property prices, trade outlook The main event this week is the opening of the National People’s Congress (NPC) later today. We’ll publish our analysis of the key NPC reports once they are released. The NPC aside, US-China tensions... 22nd May 2020 · 4 mins read
