Australia & New Zealand Economics Weekly Too early to sound all-clear on credit conditions Housing finance commitments have started to edge up again and suggest that house prices won’t fall much further for now. Households are taking the weaker housing market in their stride and APRA... 13th July 2018 · 1 min read
Canada Data Response Teranet-National Bank House Prices (Jun.) The national rate of house price inflation slowed to a near-five-year low of 2.9% in June. With house price inflation in Vancouver now plummeting back down to earth, the national rate looks set to... 12th July 2018 · 1 min read
UK Housing Market Data Response RICS Residential Market Survey (Jun.) New sales instructions rose for a second consecutive month in June. But with new buyer enquiries flat and the stock of homes for sale still close to a record low, a meaningful recovery in mortgage... 12th July 2018 · 1 min read
US Housing Market Chart Pack House price growth slows as demand weakens The recent drop in home buying sentiment, partly driven by concerns that prices are too high, is now evident in lackluster mortgage applications for home purchase. Applications fell 0.4% m/m in June... 11th July 2018 · 1 min read
Japan Economic Outlook Subdued inflation ties BoJ’s hands We expect GDP growth to be broadly in line with trend both this year and next. The labour market will remain very tight and wage growth may strengthen further. But sluggish demand after next year’s... 11th July 2018 · 1 min read
China Economic Outlook Domestic headwinds building Sentiment about China’s economic prospects has worsened recently as trade tensions have escalated. The tariffs announced so far won’t have a big impact though. Instead, we expect economic growth to... 10th July 2018 · 1 min read
Nordic & Swiss Economics Weekly Riksbank hawkish, Norwegian housing recovering The main event this week was the Riksbank meeting , at which the Bank reiterated that it expected to raise interest rates in December. And data released since the meeting support the case for the... 6th July 2018 · 1 min read
US Housing Market Update Rise in natural vacancy rate may support rental growth It is possible that the large number of new apartments entering the market over the past year has acted to increase the ‘natural’ vacancy rate. Uncertainty about achievable rents in new buildings... 6th July 2018 · 1 min read
UK Housing Market Chart Pack July 2018 Data revisions left Q1 GDP at 0.2% q/q, an improvement over the previous estimate but still weak. However the PMI data showed further improvement in June. As a result, economic growth is likely to... 6th July 2018 · 1 min read
Australia & New Zealand Economics Weekly Policymakers, housing and households As well as fretting about the rise in global trade barriers, policymakers in Australia are also becoming more worried about housing. And rightly so. After all, some of the most reliable leading... 6th July 2018 · 1 min read
US Housing Market Data Response Mortgage Applications (June) Demand for home purchase and refinancing both dropped back in June, as higher mortgage interest rates and inventory shortages weighed on housing market activity. With interest rates set to trend... 5th July 2018 · 1 min read
US Housing Market Update Californian inventory rises, but for the wrong reasons The rise in the number of homes for sale in California, to its highest level in a year, is not the good news it first appears. The increase is due to a drop in home sales, rather than a rise in... 29th June 2018 · 1 min read
UK Housing Market Data Response Mortgage Lending (May) May’s rise in mortgage approvals was too small to suggest that a revival in the lending market is underway. Not only was the number of mortgages approved comfortably within the range which has... 29th June 2018 · 1 min read
UK Housing Market Data Response Housebuilding (Q1) Housing starts fell in Q1, as the wider housing market slowdown caught up with the newbuild sector. Indeed, with newbuild transactions now falling, we think the housebuilding recovery has reached a... 28th June 2018 · 1 min read
UK Housing Market Data Response Nationwide House Prices (Jun.) House price inflation slowed to 2% in June – the slowest result since 2013. And with prices down by 1.9% y/y in Q2, the fall in London prices accelerated. That said, with tentative signs that activity... 27th June 2018 · 1 min read
US Housing Market Data Response Case-Shiller House Prices (Apr.) The slowdown in annual house price growth to 6.4% on the Case-Shiller measure in April is in line with earlier data from the FHFA. In addition to record low levels of inventory, active housing demand... 26th June 2018 · 1 min read
