Australia & New Zealand Economics Update Further falls in dwellings investment lie ahead While the recent rises in building approvals are encouraging, we doubt they are a sign that the drag on GDP growth from dwellings investment is already over. Indeed, we expect that dwellings... 20th March 2018 · 1 min read
Canada Chart Pack Home sales slump worsening The further drop in home sales last month confirms that the slowdown in trend sales that began around a year and a half ago has worsened. Unfortunately, prospective home buyers and sellers are now... 20th March 2018 · 1 min read
Australia & New Zealand Data Response Australia ABS House Prices (Q4) The 1.0% q/q rise in ABS house prices in the fourth quarter overstates the health of the market at the end of last year and the more up-to-date CoreLogic data show that prices stagnated in the first... 20th March 2018 · 1 min read
UK Housing Market Chart Pack London Housing Chart Book: London market set for downturn Conditions in London’s housing market are deteriorating – buyer demand is weakening, rents are falling and housing transactions continue to soften. With prices very high and signs that landlords in... 15th March 2018 · 1 min read
Canada Data Response Teranet-National Bank House Prices (Feb.) The renewed decline in house prices in February suggests that the housing market is in a price correction. Tougher mortgage rules and recent increases in interest rates have negatively impacted home... 14th March 2018 · 1 min read
Japan Chart Pack Expansion has become shakier Revised GDP figures confirmed that the economic recovery continued apace in Q4. However, the more recent monthly activity data suggest that the longest period of uninterrupted expansion since the late... 14th March 2018 · 1 min read
UK Housing Market Focus Have London house prices reached a tipping point? While still true at the national level, London can no longer be characterised as a sellers’ market. An apparent shift in attitudes among sellers, combined with lower buyer numbers has sharply altered... 13th March 2018 · 1 min read
US Housing Market Chart Pack Strong rental demand keeps vacancy rate in check Mortgage interest rates have continued to rise, averaging 4.63% in February; their highest level since the end of 2013. But more of an issue for sales is the chronic shortage of homes for sale, which... 12th March 2018 · 1 min read
Australia & New Zealand Economics Focus Life after the booms The economy will probably cope reasonably well even though both the mining and housing booms are over, but over the next couple of years it is unlikely to strengthen as much as policymakers hope. Over... 12th March 2018 · 1 min read
Canada Economics Weekly Canadian dollar's underperformance to persist The Canadian dollar rebounded yesterday following the confirmation that Canada’s economy will be exempt from US tariffs on steel and aluminium. It isn’t out of the woods yet, however. NAFTA’s future... 9th March 2018 · 1 min read
UK Housing Market Data Response Mortgage Lending and Nationwide House Prices Mortgage approvals bounced back in January, reversing the drop in activity seen in the immediate aftermath of November’s rate hike. But with the Nationwide measure of house price inflation at a six... 1st March 2018 · 1 min read
US Housing Market Data Response Case-Shiller / FHFA House Prices (Dec.) The Case-Shiller and FHFA house price indices painted contrasting pictures in December. Annual growth on the Case-Shiller index rose to 6.3%, the highest level since May 2014. But the FHFA reported a... 27th February 2018 · 1 min read
Europe Economics Update Rising Dutch house prices to support economic growth The Dutch housing market is set to perform well this year and next. And as there is a strong link between house prices and consumer spending, this should give the already strong-economy a further... 26th February 2018 · 1 min read
UK Housing Market Data Response UK Finance Mortgage Lending (Jan.) January’s surge in mortgage approvals is not the sign of the market springing back to life, but simply a reversal of the distortions caused by November’s rate hike. The outlook for lending this year... 26th February 2018 · 1 min read
US Housing Market Update Narrowing in spread tempers rise in mortgage rates The impact of higher Treasury yields on mortgage rates has been softened by a narrowing of the spread between the two. That reflects a fall in the option cost of prepayment risk, as higher mortgage... 23rd February 2018 · 1 min read
UK Housing Market Update Will mortgage rates spike when the TFS ends? The Term Funding Scheme did little to lower mortgage pricing, and its withdrawal could pass with little discernible effect. But by boosting lenders’ marginal funding costs, the end of the TFS does... 23rd February 2018 · 1 min read
