Housing Market Recovering

World housing markets mostly recovering

The world’s housing markets are recovering, according to the Global Property Guide’s latest survey of residential property time-series. During the last quarter of 2009, house prices rose in 22 countries, of the 34 countries for which quarterly house-price statistics are available, and fell in only 11 countries.

However, if we look at year-on-year figures, 2009 has not been a happy year – 18 countries’ housing markets saw price declines, while only 16 experienced increases.

In other words, though the last two quarters suggest that recovery is now taking place, most countries’ house prices are still down on the year, due to earlier declines.

The Global Property Guide’s statistical presentation uses price-changes after inflation, giving a more realistic picture.

Financialmirror.com, March 2010