UK Housing Market Data Response Mortgage Lending (Jun.) House purchase mortgage approvals rose for a second month in June – by a respectable 1.4% m/m. But demand is still weak, and further growth in lending will be constrained by high house prices and... 30th July 2018 · 1 min read
Australia & New Zealand Economic Outlook Life without the booms The end of Australia’s housing boom and New Zealand’s migration boom mean that economic growth in both countries will probably fall short of expectations over the next couple of years. Australia may... 30th July 2018 · 1 min read
UK Housing Market Update Landlord sell-off driving fall in instructions The end of the BTL boom has contributed to reduced liquidity in the rental market, making it harder for tenants to find a home. With no sign of a BTL revival in sight, we suspect the current slowdown... 27th July 2018 · 1 min read
US Housing Market Data Response New Home Sales (Jun.) Given the recent decline in home buyer sentiment, as well as the dip in existing home sales already reported, June’s fall in new home sales should not come as a surprise. That said the dip did more... 25th July 2018 · 1 min read
UK Housing Market Data Response UK Finance Mortgage Lending (Jun.) Mortgage approvals have recovered during the second quarter, having now risen for three consecutive months. But demand is still weak, and further growth in approvals will be constrained by high prices... 25th July 2018 · 1 min read
US Housing Market Data Response FHFA House Prices (May.) According to the FHFA, the easing in the average pace of monthly house price gains was extended into May. The implication is that the recent drop in home sales and home buying sentiment appear to be... 24th July 2018 · 1 min read
UK Housing Market Outlook Outlook subdued to 2020 Mortgage rates are set to exceed 3% by the end of our forecast. With house prices very high, that will keep house price inflation below 2% out to 2020. This means that the house price to income ratio... 24th July 2018 · 1 min read
US Housing Market Data Response Existing Home Sales (Jun.) June’s drop in existing home sales means that activity levels in the first six months of this year were 2% lower than in the same period of 2017. Indeed, at 5.38m annualised, sales in June sat close... 23rd July 2018 · 1 min read
India Chart Pack BJP defeats no-confidence vote Prime Minister Modi’s BJP comfortably defeated the vote of no-confidence initiated by opposition parties on Friday. The result isn’t a major surprise given that the BJP holds a majority in the Lok... 23rd July 2018 · 1 min read
US Housing Market Update Slowing demand a downside risk for housing starts Alongside lot, labour and material shortages, builders are now having to contend with growing evidence that the sales environment is becoming more testing. While the strong labour market, and lack of... 20th July 2018 · 1 min read
China Economics Weekly PBOC FX policy becoming more hands-on again The People’s Bank appears to be leaning against downward market pressure on the renminbi. But the depreciation it has allowed so far will already provide a cushion for China’s exporters as they face... 20th July 2018 · 1 min read
China Chart Pack Corporate defaults surge Corporate bond defaults in China have jumped recently, adding to worries about the economic outlook. July is on track to more than double the previous monthly record for the scale of onshore bonds... 19th July 2018 · 1 min read
US Housing Market Data Response Housing Starts (Jun.) Both single and multifamily housing starts recorded substantial declines in June. The fall of 12.3% m/m in total starts was the largest month-on-month drop since the end of 2016. Building permits were... 18th July 2018 · 1 min read
UK Housing Market Data Response UK House Price Index (May.) The UK House Price Index recorded a broad-based slowdown in May, with house price inflation cooling in every region over the last three months. 18th July 2018 · 1 min read
Canada Economics Weekly Bank still too sanguine about the housing market The Bank of Canada appears increasingly confident in the economic outlook, but we think that its forecasts for GDP growth will prove to be too optimistic. Following this week’s increase in the policy... 13th July 2018 · 1 min read
US Housing Market Update Americans have not forgotten that house prices can fall The share of Americans who point to high house prices as a reason not to buy looks elevated in relation to the level of real house prices and mortgage affordability. That may reflect memories of the... 13th July 2018 · 1 min read
