UK Housing Market Update Decarbonising UK residential – the biggest challenge? Energy Performance Certificates (EPCs) are the main benchmark for environmental standards in UK housing. There is evidence that they are improving efficiency in new-builds and new regulations will... 27th February 2023 · 5 mins read
US Housing Market Data Response New Home Sales (Jan.) Price reductions and generous incentives offered by homebuilders helped new home sales continue to outperform the wider market in January. But a renewed rise in mortgage rates will weigh on new home... 24th February 2023 · 2 mins read
Australia & New Zealand Economics Update Housing downturn not over just yet House prices bounced back in February, led by Sydney. While leading indicators point to an improvement in housing market activity, the RBA’s determination to raise interest rates further means that... 24th February 2023 · 3 mins read
US Housing Market Data Response Existing Home Sales (Jan.) The marginal decline in existing home sales in January supports our view that housing market activity is reaching a trough. But growing economic headwinds and stretched affordability mean sales will... 21st February 2023 · 2 mins read
Australia & New Zealand Economics Update Housing downturn will be deflationary Rent inflation is set to approach 10% as the surge in net migration coupled with lower home completions has pushed rental vacancy rates to record low. But that rise will be overwhelmed by the slowdown... 20th February 2023 · 2 mins read
US Housing Market Data Response Housing Starts (Jan.) Single-family housing starts dropped back in January and the permits data add weight to our view that more weakness is to come. We think that starts will edge lower in the coming months, before an... 16th February 2023 · 2 mins read
Middle East & North Africa Economics Weekly Dubai GRE debts, Tunisia’s IMF deal, Saudi real estate Dubai’s economic backdrop has improved markedly in the past year or so and has provided government-related entities with room to breathe in the face of large debt repayments this year, including a $5... 16th February 2023 · 6 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
Canada Economics Update Canada Housing Watch (Feb.) The unseasonably warm start to 2023 provided little support to the housing market or construction, with sales and prices falling further in January while housing starts slumped to a 28-month low. As... 15th February 2023 · 4 mins read
US Commercial Property Update Growing signs affordability will constrain rental demand We expect stretched affordability and rising unemployment to lead to an increase in rental arrears and evictions in the coming quarters, causing rental household formation to turn negative and... 9th February 2023 · 3 mins read
UK Housing Market Data Response RICS Residential Market Survey (Jan.) There was some hope that, in keeping with the pause in house price falls recorded by Halifax in January, the RICS survey would show a recovery in demand on the back of the modest decline in mortgage... 9th February 2023 · 3 mins read
UK Housing Market Data Response Halifax House Prices (Jan.) We suspect that the pause in house price falls in January reported by Halifax will prove temporary. Despite the slight decline in mortgage rates, affordability still looks far too stretched for house... 7th February 2023 · 3 mins read
UK Housing Market Update Cash buyers unlikely to prop up housing market Most, but not all measures of house prices show that they are falling. That has led some to contend that cash buyers may be supporting prices. But we think it is just a matter of time before the ONS... 6th February 2023 · 2 mins read
UK Commercial Property Data Response S&P Global/CIPS Construction PMI (Jan.) The headline CIPS construction index showed a contraction in activity in January, with the housing index seeing a substantial decline. But the forward-looking indicators improved, with future business... 6th February 2023 · 3 mins read
Australia & New Zealand Economics Weekly Housing slump still searching for the bottom Australia’s house prices are still falling rapidly and there is no bottom in sight. The fastest house price decline in Australia’s history will soon be the largest as the RBA continues to ratchet... 3rd February 2023 · 4 mins read
Nordic & Swiss Economics Weekly Property slump push Swedish inflation down The fact that Sweden’s inflation rate rose more than expected in November and December is a key reason why we expect the Riksbank to raise rates by 50bp next week. Looking further ahead, however, we... 3rd February 2023 · 6 mins read
