London Housing Markets Chart Pack Affordability shapes London performance The Land Registry report that London house price growth slowed to 3.2% y/y in January and more timely data based on mortgage approvals show a 2.2% y/y fall in prices in Q1. The detail suggests that... 6th April 2023 · 7 mins read
UK Housing Market Data Response Halifax House Prices (Mar.) The third consecutive monthly increase in house prices recorded by Halifax suggests that pricing is proving remarkably resilient to higher mortgage rates. But it is at odds with the consistent fall in... 6th April 2023 · 3 mins read
Australia & New Zealand Data Response Australia CoreLogic House Prices (Mar.) With housing affordability the most stretched it’s been since the global financial crisis, we don’t think the uptick in house prices in March will be sustained. We’re sticking to our forecast that... 3rd April 2023 · 3 mins read
UK Housing Market Data Response Nationwide House Prices (Mar.) House prices fell for a seventh consecutive month in February, taking the total fall from their peak in August to 4.6%. With house prices still significantly overvalued in today’s higher mortgage rate... 31st March 2023 · 4 mins read
US Housing Market Update Housing market insulated from banking crisis The latest mortgage market data show that the banking crisis has, so far, had a minimal impact on the housing market. While spreads have increased, overall mortgage rates have dropped and applications... 30th March 2023 · 3 mins read
UK Housing Market Chart Pack Downturn moderates, but outlook remains challenging The partial reversal of the spike in mortgage rates following the “mini” budget has helped to stem the deterioration in housing market demand. Our measure of the average quoted mortgage rate has... 30th March 2023 · 10 mins read
US Housing Market Data Response Case-Shiller/FHFA House Prices (Jan.) House prices continued to nudge lower in January, taking the total fall since their June 2022 peak to 3.0%. But with affordability still stretched, we expect price falls to continue over the coming... 28th March 2023 · 2 mins read
UK Housing Market Data Response RICS Residential Market Survey (Feb.) The slight recovery in the new buyer enquiries balance in February suggested that the reversal of the autumn spike in mortgage rates allowed a limited revival in demand. But with sales volumes falling... 9th March 2023 · 3 mins read
UK Housing Market Data Response Recovery in house prices adds to optimism The substantial recovery in Halifax house prices in February added weight to the view that we will see a stand off between buyers and sellers that causes transactions to slump, but minimal price falls... 7th March 2023 · 3 mins read
US Housing Market Update Poor affordability key to bigger price falls in the West In this Update we examine the implications of affordability for house prices at the market level. Despite sunbelt markets seeing the strongest house price growth over the past couple of years... 6th March 2023 · 3 mins read
UK Housing Market Data Response Nationwide House Prices (Feb.) The further fall in house prices in February will keep optimism based on reports that demand has recovered in check. Indeed, even if buyer volumes have recovered, the amount they can spend on a new... 1st March 2023 · 3 mins read
Australia & New Zealand Data Response Australia CoreLogic House Prices (Feb.) Although the decline in house prices slowed markedly in February, we’re not convinced the worst is over. As such, we expect house prices to fall by another 6% before the year is up. 1st March 2023 · 2 mins read
US Housing Market Data Response Case-Shiller/FHFA House Prices (Dec.) Despite a sixth consecutive month of falling house prices in December, affordability was still stretched even before the renewed rise in mortgage rates. As a result, it is likely that prices will... 28th February 2023 · 3 mins read
UK Housing Market Update Buyers respond to higher rates by borrowing less Higher interest rates have begun to reduce the size of mortgage that buyers take out. As two-thirds of buyers rely on a mortgage, that will decrease most buyers’ budgets and put further downward... 23rd February 2023 · 3 mins read
UK Housing Market Chart Pack Few signs of market bottoming out The survey data suggest that the modest decline in mortgage rates since October falls a long way short of what would be required for house prices to bottom out. The fall in market interest rates since... 16th February 2023 · 10 mins read
US Housing Market Outlook Slow recovery in sales and further falls in prices Housing market activity is likely to recover only gradually from its current lows, which means we think 2023 will be the weakest year for sales since 2012. Affordability will remain stretched by past... 10th February 2023 · 18 mins read
