UK Housing Market Update Interest rate hold won’t provide immediate relief Despite ending the interest rate hiking cycle today, the Monetary Policy Committee succeeded in convincing financial markets that interest rates will remain high for some time. As market interest rate... 21st September 2023 · 3 mins read
US Housing Market Rapid Response Existing Home Sales (Aug.) The 0.7% m/m fall back in existing home sales in August reflects falling mortgage borrowing and took sales back close to the low levels recorded in January. Our view that mortgage rates will remain... 21st September 2023 · 2 mins read
US Housing Market Rapid Response Housing Starts (Aug.) Housing starts fell sharply across both the single-family and multifamily sectors in August, suggesting that construction has now reached a turning point. We expect this downward trend to continue for... 19th September 2023 · 2 mins read
UK Housing Market Update RICS Residential Market Survey (Aug.) Depressed activity remains consistent with falling house prices. The further deterioration of the RICS survey figures in August suggest the peak in mortgage rates seen in July are continuing to dampen... 13th September 2023 · 3 mins read
UK Housing Market Update High rates restrain lending and push up arrears The Q2 Mortgage Lenders and Administrators statistics from the Bank of England showed that higher rates are limiting lending and making it more difficult than ever for single-income households to get... 12th September 2023 · 3 mins read
UK Housing Market Update Real house prices hit seven-year low According to Halifax, house prices are up by 20% compared to 2019 even after their recent falls. But adjusted for inflation they slipped to a seven-year low in August. High mortgage rates point to a... 7th September 2023 · 2 mins read
UK Commercial Property Rapid Response S&P Global/ CIPS Construction PMI (August) 6th September 2023 · 2 mins read
UK Housing Market Update Pandemic trends are approaching their end The adoption of remote work meant central London was left out of the COVID-19 house price boom. But with house prices in outlying towns and rural areas around the capital starting to stagnate too... 5th September 2023 · 4 mins read
US Housing Market Rapid Response Case-Shiller/FHFA House Prices (Jun.) The limited supply of existing homes for sale helped house prices rise for the fifth consecutive month in June, according to Case-Shiller. Given the sizeable increase in prices in Q2 and that we... 29th August 2023 · 2 mins read
UK Housing Market Update Flat prices likely to outperform Having risen in value by much less than houses over the past three years, flats were selling at the biggest discount to houses on record at the beginning of the year. But higher mortgage costs are... 24th August 2023 · 2 mins read
US Commercial Property Chart Pack US Commercial Property Chart Pack (Q3 2023) All-property values are down by 10% from their mid-2022 peaks, but we think there is still another 15% to come by the end of 2024. Much of that price fall will be driven by a rise in cap rates in... 23rd August 2023 · 1 min read
US Commercial Property Update Apartment completions likely to stay strong until 2025 We continue to expect historic highs for apartment completions in 2023-24 even though there are signs some will be deferred. This also means that, although new permits have dropped back amid softer... 18th August 2023 · 3 mins read
UK Housing Market Outlook Renewed falls in activity and house prices imminent Our forecast that the Bank of England won’t start cutting interest rates until the second half of 2024 means mortgage rates are likely to stay between 5.5% and 6.0% for the next 12 months. That will... 4th August 2023 · 20 mins read
UK Commercial Property Rapid Response S&P Global/CIPS Construction PMI (Jul 23) The headline CIPS construction PMI resumed its upward trend in July, with the rise to 51.7 more than reversing the drop into contractionary territory in June. 4th August 2023 · 2 mins read
