UK Housing Market Data Response UK Finance Mortgage Lending (Mar.) March’s surprise rise in mortgage approvals is unlikely to be repeated next month. That said, the fact that lending has held up fairly well in the face of Brexit uncertainty so far, supports our view... 26th April 2019 · 1 min read
US Housing Market Update Easing labour shortages will help cut building backlog The sharp fall in lumber prices over the past 10 months has failed to halt the rise in single-family homes which have been authorised, but not started. Labour shortages now appear to be the key... 25th April 2019 · 1 min read
India Chart Pack Election crosses halfway stage India’s mammoth general election that began earlier this month is now past the halfway stage. Votes have been cast in 302 out of the country’s 543 constituencies, with four days earmarked for further... 24th April 2019 · 1 min read
US Housing Market Data Response FHFA House Prices / New Home Sales (Feb./Mar.) New home sales continued their strong start to the year in March, with an increase in the number of cheaper homes sold helping lift them to a 17-month high. But with the economy slowing, that rate of... 23rd April 2019 · 1 min read
Japan Chart Pack Spending boost from sales tax hike to remain muted Private consumption surged ahead of the last two sales tax hikes as households brought forward spending but collapsed as soon as the tax had been raised. The data thus far suggest that consumers have... 22nd April 2019 · 1 min read
Australia & New Zealand Economics Weekly Why two cuts may not be enough As the economic outlook has softened the RBA is inching closer to a rate cut. The analyst consensus has now come around to our view and foresees two 25bp cuts by early next year. But we think that the... 18th April 2019 · 1 min read
China Data Response GDP (Q1), Activity & Spending (Mar.) China’s economy stabilised in Q1 thanks to a marked improvement in activity last month. Admittedly, the latest surge in industrial production is hard to take at face value and is likely to be... 17th April 2019 · 1 min read
US Housing Market Update Fall in mortgage rates fails to boost buying sentiment Even as mortgage interest rates have fallen to 15-month lows, the share of Americans saying now is a good time to buy a home has stayed close to 10-year lows. While some rise in buying sentiment over... 16th April 2019 · 1 min read
India Economic Outlook Slower growth after the election Growth in India is likely to slow as policy tightens after the general election. Even so, it should still be the best performing major emerging economy in the coming years. 15th April 2019 · 1 min read
China Economics Weekly Will residency reforms revive the property market? The government’s plans to make it easier for rural migrants in small cities to acquire urban residency permits have raised hopes of a revival in property sales. But the nationwide impact will probably... 12th April 2019 · 1 min read
Canada Data Response Teranet House Prices (Mar.) The Teranet House Price Index showed a second consecutive monthly fall in house prices in March. The recent weakness of home sales and the increase in new home supply this year suggests that house... 12th April 2019 · 1 min read
China Economic Outlook Policy restraint to limit scale of rebound We expect stimulus to shore up growth in the next few months. But with the scale of policy support smaller than in previous downturns, the sharp economic rebound that some are expecting is unlikely. 12th April 2019 · 1 min read
Canada Economics Update Full effects of housing downturn yet to be felt The continued weakness of home sales suggests that March’s rebound in housing starts is unlikely to be sustained, while the subdued pace of house price inflation points to spending growth remaining... 11th April 2019 · 1 min read
UK Housing Market Data Response RICS Residential Market Survey (Mar.) The latest RICS survey was slightly less gloomy than a month ago, but this is unlikely to signal any change in the underlying market. Given Brexit concerns, conditions are likely to remain weak near... 11th April 2019 · 1 min read
US Housing Market Chart Pack Surge in mortgage demand will not be sustained A drop in interest rates gave the mortgage market a shot in the arm in March, with applications for home purchase rising to close to a nine-year high. But we doubt that housing market activity is set... 10th April 2019 · 1 min read
Australia & New Zealand Economic Outlook Rates to fall to fresh record-lows A slowing global economy will magnify the headwinds from the housing downturn in Australia and slower net migration in New Zealand. We think that GDP growth will slow more sharply than most anticipate... 9th April 2019 · 1 min read
