US Housing Market Rapid Response US Housing Starts (Feb. 2024) The strong rebound in housing starts last month confirmed January’s slump was a weather-related blip. Although we expected starts to bounce back, February’s data were even stronger than we had... 19th March 2024 · 2 mins read
US Housing Market Update Southern house price outperformance to last The national average house price has risen by nearly 50% since the start of the pandemic, but that masks a lot of regional variation. The rise in house prices in southern metros has been even larger... 18th March 2024 · 4 mins read
UK Housing Market Outlook Fall in mortgage rates will allow market to recover A slight rise in mortgage rates since the start of the year is likely to mean house prices stall in the near term. But our forecast that Bank Rate will be cut faster than most expect, to 3.00% by the... 15th March 2024 · 18 mins read
US Housing Market Outlook No end in sight to rising house prices Even if mortgage rates fall to 6% as we expect, mortgage rate ‘lock-in’ will continue to curb home moves. As a result, we only anticipate a trickle of new resale supply coming onto the market over the... 5th March 2024 · 15 mins read
Europe Commercial Property Update Drop back in office completions to support prime rents Completions in Europe are set to increase over the next year or so as construction delays unwind, which will contribute to rising vacancy. However, we expect the upward pressure from supply to ease... 5th March 2024 · 3 mins read
UK Housing Market Update The origin of the government’s 300,000 target We have traced the government’s target of building 300,000 new homes a year in England back to the 2004 Barker Review. Rerunning the calculations two decades on suggests 385,000 new homes a year would... 4th March 2024 · 3 mins read
US Housing Market Update Single and multi-family construction on different paths Following the huge fall in multi-family starts in January, we suspect the apartment sector will continue to be a drag on new development this year. But construction of single-family dwellings will... 19th February 2024 · 3 mins read
US Housing Market Rapid Response Housing Starts (Jan. 2024) Housing starts fell by the largest amount since April 2020 in January, led by a huge drop in multi-family starts. We suspect the multi-family sector will continue to be a drag on new development this... 16th February 2024 · 3 mins read
US Housing Market Update Are rents really falling? We think the recent divergence between the BLS measure of apartment rents and other sources is due to reliability issues with the former, which we expect will be revised higher in future releases... 31st January 2024 · 3 mins read
US Housing Market Update Questions from our latest US housing drop-in We held a 20-minute online briefing this week to discuss our new forecast for the US housing market in 2024. You can watch the recording of the “drop-in” here. This Update recaps our answers to the... 25th January 2024 · 4 mins read
UK Housing Market Chart Pack UK Housing Market Chart Pack (Jan 2024) If we are right to think that the Bank of England will begin lowering interest rates in June, the recent fall in mortgage rates should be sustained. The resulting drop in the cost of borrowing will... 22nd January 2024 · 1 min read
US Housing Market Rapid Response Housing Starts (Dec. 2023) Housing starts fell last month reversing almost half of November’s huge weather-driven 11% m/m increase, but remained stronger than they were in the summer. The fall on the month was something of a... 18th January 2024 · 2 mins read
US Housing Market Update Key US housing market calls for 2024 We doubt that the modest fall in mortgage rates we anticipate this year will bring a great deal more stock onto the market. Because of that, the supply of existing homes will remain very tight, so we... 12th January 2024 · 4 mins read
UK Housing Market Update Approaching a turning point in construction Note: Following the publication of government statistics on housing construction in Q3 2023 today, we are sending clients a revised version of this Update first published on 11 January. Barring Q2... 11th January 2024 · 3 mins read
US Housing Market Update 2023 in review In what was an extremely volatile year for the housing market, we made two key forecasting errors. Firstly, we didn’t anticipate the extent of the rise in mortgage rates. Because of that, we... 5th January 2024 · 4 mins read
US Commercial Property Update Where will new apartment supply fall fastest? We expect the sharpest fall in apartment completions in 2025-26 in Boston, Denver, NYC and Seattle. Those cities will also be joined by Sunbelt markets where oversupply is already denting rents... 28th December 2023 · 3 mins read
