UK Housing Market Data Response Mortgage Lending (May) Despite the housing market reopening half-way through May, house purchase mortgage approvals once again fell sharply. But signs of a bounce back in buyer demand in June, combined with resilient... 29th June 2020 · 2 mins read
UK Housing Market Update How will the high LTV withdrawal hit lending? The recent withdrawal of high LTV products could impede as many as one in four prospective first-time buyers. More broadly, tighter credit conditions reinforce our view that, despite signs of a surge... 26th June 2020 · 3 mins read
UK Housing Market Update Transactions recovery to beat expectations Transactions in April and May have surprised on the upside. What’s more, there are signs that new demand in June has been stronger than expected. Of course, the economic damage from lockdown suggests... 25th June 2020 · 3 mins read
UK Housing Market Update Rental market isn’t out of the woods The rental market data have been surprisingly resilient. But informal rent cuts may be happening under the radar, while government support has delayed the crunch point for households. As a result, we... 18th June 2020 · 3 mins read
UK Housing Market Data Response RICS Residential Market Survey (May.) May’s RICS survey points to a modest fall in house prices. But the rest of the survey is harder to interpret. It suggests that activity fell from April’s already very low level, despite lockdown... 11th June 2020 · 2 mins read
UK Housing Market Chart Pack Housing market on a knife edge While the housing market has reopened, there are still limited data on the pace of improvement. Given the economic damage, uncertainty and weak pipeline of in-progress housing sales, we expect the... 10th June 2020 · 8 mins read
UK Housing Market Data Response Mortgage Lenders and Administrators Statistics (Q1) High LTV lending was already edging down before the coronavirus hit, as competitive pressures among banks plateaued. But lenders have since withdrawn such loans en masse, owing to fears of a house... 9th June 2020 · 2 mins read
UK Housing Market Data Response Halifax House Prices (May.) According to the Halifax index, house prices fell for a third consecutive month in May as lockdown was eased. But the fall of 0.2% m/m was very gradual. That supports our view that house prices will... 5th June 2020 · 2 mins read
UK Commercial Property Data Response IHS Markit/CIPS Construction PMI (May.) May’s rise in the construction PMI suggests that April was probably the low point for activity. The improvement was driven both the commercial and residential sectors. Looking ahead, with lockdown... 4th June 2020 · 2 mins read
UK Housing Market Data Response Mortgage Lending (Apr.) House purchase mortgage approvals fell by 71.8% m/m in April – broadly in line with our expectations. Looking ahead, with the housing market having reopened in May, that probably marks a low point... 2nd June 2020 · 2 mins read
UK Housing Market Data Response Nationwide House Prices (May.) House prices slumped in May due to the economic fallout from the coronavirus. Given the magnitude of the economic shock, further price cuts are extremely likely. That said, we think the extensive... 2nd June 2020 · 2 mins read
UK Housing Market Update Mortgage holiday extension cuts chance of crash The extended mortgage holiday scheme will cushion the blow for financially distressed households. Alongside the other financial support already available, it further reduces the chance of an immediate... 22nd May 2020 · 3 mins read
UK Housing Market Chart Pack Gradual thaw for the housing market The housing market ground to a halt in response to the coronavirus lockdown, but looking ahead, restrictions on housing activity have been eased. Still, the huge hit to the economy from the virus... 20th May 2020 · 8 mins read
UK Commercial Property Update How will eased lockdown affect property development? Easing movement restrictions, combined with government support and strong underlying demand will allow housebuilding to bounce back fairly quickly. But weak occupier demand and falling capital values... 15th May 2020 · 3 mins read
UK Housing Market Data Response RICS Residential Market Survey (Apr.) With the housing market reopening, April’s slump in sales may be the market’s lowest point. But any recovery will start from a low base and face serious economic headwinds – from both weak employment... 14th May 2020 · 2 mins read
UK Housing Market Update The housing market won’t thaw overnight The ban on home buying activity has been lifted by the government. But a weakened economy, uncertainty and behavioural shifts from the coronavirus will hamper the housing market recovery. By the end... 13th May 2020 · 3 mins read
