China Economics Update Destocking could offer a short-run fix to property woes Government purchases of unsold housing may help to stabilise China’s property sector in the near-term, alleviating a key economic headwind. But they won’t prevent the sector from shrinking... 16th May 2024 · 6 mins read
Canada Economics Update Canada Housing Watch (May 2024) The April housing market data show that the spring season is shaping up to be vastly different than last year, with sales dropping back despite higher listings and house prices unchanged. This has... 15th May 2024 · 4 mins read
US Housing Market Chart Pack US Housing Market Chart Pack (Apr. 2024) Mortgage rates climbed back above 7% last month but we think that trend will soon reverse, with rates falling to 6.5% by year-end. Lower borrowing costs will draw more mortgaged buyers into the market... 14th May 2024 · 1 min read
UK Housing Market Update Is renting becoming the preserve of the rich? High net migration has led to a big jump in demand for rental properties that has pushed up the cost of rent compared to the average salary. But comparing rents to average pay is not as accurate a... 13th May 2024 · 4 mins read
US Housing Market Update Shutting out institutional buyers won’t lower house prices Lawmakers' current efforts to restrict institutional buying of single-family homes won’t put downward pressure on house prices if enacted, as their market share is minimal. 9th May 2024 · 3 mins read
Canada Chart Pack Canada Chart Pack (May 2024) O ur Canada Chart Pack has been updated with the latest data and our analysis of recent developments. The strength of GDP growth in the first quarter is unlikely to be sustained, with growth set to... 9th May 2024 · 0 mins read
UK Housing Market Update RICS Residential Market Survey (April 2024) Increasing supply points to softer price growth While sales volumes were robust in April according to the RICS Residential Market Survey, stalling demand and increasing supply suggests that prices... 9th May 2024 · 2 mins read
US Housing Market Rapid Response US Mortgage Applications (Apr. 2024) The small rebound in mortgage demand in March proved short-lived, as higher borrowing costs caused home purchase mortgage applications to drop 2.3% m/m in April. But the 10-year Treasury yield’s... 8th May 2024 · 2 mins read
UK Commercial Property Rapid Response S&P Global/ CIPS UK Construction PMI (Apr. 24) The headline CIPS construction PMI rose for the fifth consecutive month to 53.0 in April, a 14-month high. The rise was driven by improvements to the commercial and civil engineering components... 7th May 2024 · 2 mins read
China Economics Weekly Developer financing still weak, green loans surge The continued weakness of credit demand is holding back China's economic recovery. While lending to manufacturers continues to be strong – particularly for those engaged in green technology production... 3rd May 2024 · 7 mins read
UK Housing Market Rapid Response Nationwide House Price Index (Apr. 2024) The second consecutive decline in the Nationwide house price index in April confirms that the rise in mortgage rates since the start of the year will prevent further near-term price gains. But as we... 1st May 2024 · 2 mins read
Australia & New Zealand Economics Update Australia CoreLogic House Prices (Apr.) The housing rebound that began early last year continued to lose momentum in April. With affordability likely to remain stretched for the foreseeable future, house price growth will only ease further... 1st May 2024 · 2 mins read
US Housing Market Rapid Response US Case-Shiller/FHFA House Prices (Feb. 2024) The substantial shortage of existing homes for sale fueled a robust 0.4% m/m rise in house prices in February, consistent with our above-consensus call that house price growth will end 2024 at 5% y/y. 30th April 2024 · 2 mins read
UK Economics Rapid Response UK Money & Credit (Mar. 2024) March’s money and credit figures provide further evidence that the drag from high interest rates is starting to fade, which supports our view that activity rebounded in Q1. And our forecast for... 30th April 2024 · 3 mins read
US Housing Market Update What later Fed rate cuts mean for the housing market A later start to Fed rate cuts than we anticipated will push the fall in mortgage rates and recovery in activity into the second half of the year. But as we think that the Fed Funds rate will... 25th April 2024 · 3 mins read
Europe Economics Update Why are Spanish house prices rising? Spanish house prices have risen 5% over the last two years despite rising interest rates. The relative affordability of houses in Spain is the main reason that the market remains strong, but the... 25th April 2024 · 4 mins read
